Tesla’s first European Gigafactory, Giga Berlin, will soon begin to take shape. Last week, the tree-felling effort at the site came to an end ahead of schedule. Moreover, the local mayor was also teasing a March 19th groundbreaking ceremony. Now we’ve learnt the final price of the Giga Berlin plot of land, as well as that Elon Musk will attend the upcoming groundbreaking ceremony.

Giga Berlin land price will be $48 million ($16.40 per square meter)

Specifically, Tesla’s Giga Berlin plot of land is roughly 300 hectares large. Although the upcoming facility will bear the “Berlin” moniker, it is actually in the area of “Grünheide”, in Brandenburg. Previously, reports have said that the site would cost Tesla roughly €40.9 million (~$46 million).

If this was the case, it would amount to a site price of roughly €13.50 (~$16) per square meter. Nevertheless, this price came from a previous report on the site. In February of 2019, however, the Brandenburg state government conducted a second assessment of the value of the site.

Moreover, all “the contracting parties” are bound by an existing agreement to respect the value found in this second assessment. That is, at least, if it does not exceed the previous valuation by 13%.

Now, however, a German government figure is supposedly leaking the final price of the Giga Berlin plot of land. According to the German spokesperson Florian Engels, the final price of the site will instead be €43.3 million (~$48 million).

The Giga Berlin sale is “largely complete”

This would correspond to a price per square meter of roughly €14.35 ($16.40) for the Giga Berlin site land. Moreover, Engels also states that the Giga Berlin sales process is essentially over. “The sale of land in Grünheide for Tesla is largely complete,” according to Engels.

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As such, Tesla will soon be able to hold its groundbreaking ceremony. Although final approvals for the site will likely not come until early summer, Tesla can still begin work at the site.

However, this comes with the unlikely caveat that Tesla will have to restore the site to its original state if Tesla does not receive final approvals.

Elon Musk promises Giga Berlin groundbreaking visit

Following last weeks comments by Grünheide’s mayor, Arne Christiani, some speculate the groundbreaking could happen as soon as March 19th. Moreover, the German Minister of Economics, Jörg Steinbach, recently said he also expects a Giga Berlin groundbreaking in March.

Since then, Tesla CEO Elon Musk has come out to promise his attendance at the Giga Berlin groundbreaking. Specifically, March 1st saw Musk state on Twitter that he will “definitely” come to the Giga Berlin groundbreaking ceremony.

It remains to see exactly when this takes place – but it is starting to look the groundbreaking ceremony is imminent. If everything goes according to plan for Tesla, this could happen as soon as March 19th.