Tesla establishes holding company in Barcelona, Spain

Credit: Tesla Asia/Twitter

Tesla has established a holding company in Barcelona, Spain. The new entity was listed in the Boletín Oficial del Estado (BOE), the official gazette of the Kingdom of Spain. 

As seen in the gazette, the holding company, dubbed “Tesla Spain Holdco,” is listed with a headquarters in Barcelona. The holding company also has a registered office at Calle De la Metalurgia 38-42 in Barcelona, which happens to be quite close to the location of Tesla Spain’s headquarters. 

This way, according to el Economista, both the holding company and the company’s representation in Spain are subject to Tesla International BV in Amsterdam. The gazette notes that the purpose of the new holding company is the “acquisition, holding, enjoyment, administration, direction and management of securities and/or shares of Spanish or foreign companies or entities, residents in Spain or abroad, etc.” 

Leading Tesla Spain Holdco are two senior executives: Joseph Gruber, the electric vehicle maker’s Vice President, Tax, and Adam Horton, a Regional Director. 

The creation of the new holding company bodes well for Tesla and its plans for Spain. Such a scenario seemed plausible earlier this year, with reports back in June suggesting that Tesla was in advanced negotiations for a $4.8 billion gigafactory in the country. Later during the month, however, Tesla reportedly abandoned its plans for the facility after details of the deal were leaked. 

The presence of a Tesla Gigafactory could be considered as a significant booster to the local economy. Francisco González, president of the National Auto Parts Industry of Mexico, previously stated that Giga Mexico will bring greater economic development to the state of Nuevo León, where the facility will be built. 

“For every dollar invested, a multiplier economic effect of between 7 and 11 dollars is generated in the local economy for all the activity that surrounds a car plant, such as the auto parts industry and other suppliers of goods and services that give it life to the factory,” he said. 

Tesla’s entry in the Boletín Oficial del Estado can be viewed below. 

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Tesla establishes holding company in Barcelona, Spain
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