Elon Musk, Tesla CEO, right, claps hands at the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, Tuesday, March 22, 2022. The first European factory in Gruenheide, designed for 500,000 vehicles per year, is an important pillar of Tesla's future strategy. (Patrick Pleul/Pool via AP)
Electric car manufacturer Tesla opened its first European factory Tuesday on the outskirts of Berlin in an effort to challenge German automakers on their home turf.
The company says its new “Gigafactory" will employ 12,000 people and produce 500,000 vehicles a year once it's fully up and running. Initial production will focus on Tesla's Model Y compact sport utility vehicle.
German Chancellor Olaf Scholz attended the opening ceremony in Gruenheide, southeast of the German capital, with Tesla boss Elon Musk, who performed an impromptu dance for fans as the first cars rolled out of the factory for delivery.
He later posted a comment on Twitter thanking Germany with the words “Danke Deutschland!” surrounded by German flags.
German Economy Minister Robert Habeck said the opening of the factory was “a nice symbol” that gasoline-powered cars can be replaced with electric vehicles at a time when Germany and other European nations are trying to reduce their greenhouse gas emissions and wean themselves off Russian oil.
Tesla began building the vast facility less than three years ago, before it received official permits to do so. Had those permits not been issued, the company would have had to level the site.
Truist's Mike Skordeles unpacks earnings trends, market correction, labor force dynamics, and what a possible December rate cut could mean for all of us.
Holiday shopping heats up as big-box earnings reveal how Walmart, Target & Home Depot are navigating consumer pressure, strategy shifts and trends shaping 2025.
The Campbell’s Co. said Tuesday it has placed one of its executives on leave while it investigates claims that he made racist comments and mocked the company’s products and customers in an audio recording.
Elon Musk’s X unveiled a feature that lets users see where an account is based. Online sleuths and experts quickly found that many popular accounts, often posting in support of the U.S. MAGA movement with thousands or hundreds of thousands of followers, are based outside the U.S. This raises concerns about foreign influence in U.S. politics.
The Enhanced Games is going public in two ways — with a new listing on the Nadsaq stock exchange and also by offering a direct-to-consumer business focused on performance products.
Real estate software company RealPage has agreed to stop sharing nonpublic information between landlords as part of a settlement with the Department of Justice.
Thanksgiving travel is set to smash records as millions fly, drive, and ride despite FAA disruptions and economic uncertainty. Here’s what you need to know.