Tesla's German Factory Back Online After Arson Attack Disrupts Production
Portfolio Pulse from Anan Ashraf
Tesla Inc's German gigafactory, located near Berlin, has resumed operations after a week-long outage caused by an arson attack. The factory, which has an installed annual vehicle capacity of 375,000 Model Y vehicles, was forced to halt production due to the attack by the 'Vulkan' Group. The outage resulted in a production loss of approximately 1000 cars per day. Tesla has announced that production will return to full speed this week.
March 12, 2024 | 10:32 am
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Tesla's German gigafactory, crucial for its European Model Y production, has resumed operations after an arson-induced outage. The factory's temporary shutdown resulted in a significant production loss.
The resumption of operations at Tesla's German gigafactory is likely to have a positive short-term impact on TSLA's stock price. The factory's role in Tesla's European market and the production of Model Y vehicles means that returning to full capacity can help mitigate the production losses incurred during the outage. The quick recovery and response to the arson attack also demonstrate Tesla's resilience and operational efficiency, potentially boosting investor confidence.
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