German Chancellor Olaf Scholz Calls Arson Attack On Tesla's Giga Berlin A 'Terrorist Act,' Wants EV Giant's Factory To Grow Like Ford's 93-Year-Old Cologne Plant
Portfolio Pulse from Anan Ashraf
German Chancellor Olaf Scholz has expressed support for the expansion of Tesla Inc.'s Gigafactory in Berlin, comparing its potential growth to Ford's Cologne plant. Scholz condemned a recent arson attack on the factory, calling it a 'terrorist act' and emphasizing the need for increased security. Tesla aims to expand the Berlin factory's capacity for battery production to 100-gigawatt hours and car production to 1 million units annually, despite protests.
March 29, 2024 | 6:39 am
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Tesla Inc. receives support from German Chancellor for Berlin Gigafactory expansion despite protests and a recent arson attack. Plans include increasing battery production to 100-gigawatt hours and car production to 1 million units annually.
The public endorsement by German Chancellor Olaf Scholz, especially in light of the recent arson attack, provides a significant boost to Tesla's expansion plans in Berlin. This support could facilitate smoother regulatory processes and potentially improve public perception, positively impacting Tesla's stock in the short term. The expansion plans are critical for Tesla's growth in Europe, indicating a strong future demand for Tesla's vehicles and batteries.
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