Tesla Plans to Expand German Gigafactory, Creating Largest Car Plant in Europe

By
Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published July 19, 2023
Tesla

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Key Takeaways

  • Tesla filed plans to expand its German gigafactory into the largest car plant in Europe.
  • The expansion would include adding a battery testing lab and more water treatment.
  • Tesla is targeting having the the factory produce 1 million cars per year.

Tesla (TSLA) shares advanced after the electric vehicle (EV) giant outlined plans to expand its German gigafactory into what could become Europe's largest car plant.

The company filed applications with local officials to make major modifications to the facility near Berlin, including building a battery testing lab and adding more water recycling. 

TSLA 1YR

YCharts

Tesla indicated it would like to boost the number of cars manufactured at the plant to 1 million per year, up from about a quarter of a million now, and double battery production to 100-gigawatt hours annually. 

The company added that employment at the factory could jump from around 10,000 to possibly 22,500. 

The expansion has faced pushback from many local residents, who have expressed concern about the possible environmental impact, especially water usage. They have until mid-September to file objections to the proposal. 

Shares of Tesla traded at a 10-month high and were up 1.5% in early trading on Wednesday morning following the news.

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  1. The Wall Street Journal. “Tesla Outlines Plan to Create Largest Auto Factory in Germany.”

  2. Reuters. “Tesla plans sweeping expansion to Berlin plant, cell production.”

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