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Tesla's German plant to produce 500,000 cars a year: Bild

Reuters
Updated
The company logo is pictured on a Tesla Model X electric car in Berlin

FRANKFURT (Reuters) - Tesla plans to build 500,000 electric vehicles a year at its new factory on the outskirts of Berlin, Germany's Bild newspaper reported on Wednesday.

Last month, Tesla Chief Executive Elon Musk announced that a site in Gruenheide, Brandenburg, had been chosen to build Tesla Model 3 and Model Y vehicles.

German newspaper Frankfurter Allgemeine Zeitung reported that Tesla will invest up to 4 billion euros ($4.41 billion) in the plant.

Tesla's Gigafactory will create 10,000 jobs, Bild said, citing planning documents to develop the site which is as large as 420 soccer pitches.

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Construction will start in 2020, the newspaper reported. Tesla declined to comment on the Bild article or on its expansion plans.

(Reporting by Edward Taylor; editing by Jason Neely and Louise Heavens)