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Despite the pushback with the local authorities regarding its Berlin gigafactory, Brandenburg’s economy minister said Tesla has a 95% chance of obtaining the factory approval.
Tesla Inc (NASDAQ: TSLA) has announced the start of production date at its new Berlin gigafactory. The CEO of the electric car-making company Elon Musk revealed that Tesla would begin to produce vehicles at its Berlin gigafactory starting from November or December. The announcement was made during a festival held at the new site on the 9th of October. The festival was accompanied by beaming lights, loud music, and amusement rides like Ferris wheel and carousel. There were also displays of arcade and vegetarian food trucks.
Tesla is moving forward into production at the disputed site that encountered lawsuits from environmental groups. About two years ago, Tesla received approval from the authorities to construct the Berlin gigafactory. In June, environmental associations filed a lawsuit against Tesla, asking that the court immediately stop the machine tests in the paint shop, press shop, and foundry.
With the approval granted under a special procedure, Tesla is nearing the finish line in the construction. Now, the local authorities are withholding final approval, claiming that the plant could be dangerous to the environment. The authorities compiled more than 800 complaints that are currently being discussed. The result of the discussion will determine the final decision on the approval.
Speaking to thousands of fans at the new Berlin gigafactory. The CEO said:
“We’re aiming to start production in a few months, basically, November or December, and hopefully deliver our first cars in December. But starting production is kind of the easy part. The hard part is reaching volume production.”
Tesla Hopes to Deliver 5,000 to 10,000 Vehicles Weekly at Berlin Gigafactory
Musk added that he hopes to achieve volume production of batteries at the new site by the end of 2022. According to the CEO, volume production would amount to around 5,000 but “hopefully” 10,000 vehicles every week. In addition to millions of battery cells, Tesla intends to manufacture Model Y vehicles at the Berlin gigafactory.
Despite the pushback Tesla is currently facing with the local authorities regarding its Berlin gigafactory, Brandenburg’s economy minister said that the automaker has a 95% chance of obtaining the factory approval. In its defense, Musk said the factory used “relatively little” water and that battery production would be “sustainable.”
Tesla stock is down 0.05% to $785.10 after-hours trading. The electric car maker has been pulling in gains over the past year. In the last twelve months, TSLA has gained nearly 81%. In addition to the increases, Tesla gas has gained more than 11% since the beginning of the year. Data further shows that TSLA stock has surged 19.57% in the last three months and 6.69% over the past month. In the last five days, the company has grown 1.32%. The average analyst rating on TSLA is “hold.”