Aug. 23, 2019—Volkswagen denied a report this week that it has any interest in taking a stake in Tesla, per a report by CNBC. 

Executives at Tesla, which didn’t immediately comment on this story according to CNBC, have said a European facility will help lower transportation costs, avoid tariffs and expand availability in a market just beginning to embrace electric vehicles. 

There are reports that, although VW does not want to invest in Tesla, it has been scouting locations in Europe for a new Gigafactory.