Talks to buy Tesla’s (TSLA) shares have started in Germany and a deal could be announced by mid-March, according to people familiar with the matter.
The talks are likely to include Tesla chief executive Elon Musk and finance minister Gerhard Schroeder, the people said, asking not to be identified because the talks are private.
The German Finance Ministry declined to comment.
Tesla is currently trading at $132.60 a share, down 3% from last year’s high.
Musk has said the carmaker has no intention of selling.
The company is still negotiating with several potential investors, and could also be looking for a new buyer, one of the people familiar said.
Tesla has raised more than $1 billion from investors, including Andreessen Horowitz, and other companies including Amazon.com Inc. and Intel Corp. The automaker recently reported record quarterly profit and has expanded its production capacity.
Tesla also has plans to add 1,200 new electric vehicles in the next three years, though those are still in the works.
Tesla’s shares have risen about 35% this year.