Tesla Wins Approval To Begin 1st Stage Of Berlin Gigafactory Expansion Despite Protests
Portfolio Pulse from Anan Ashraf
Tesla has received approval to begin the first stage of its Berlin Gigafactory expansion, despite local protests. The expansion includes infrastructure for storage, a battery cell test lab, and logistics areas. Tesla's EU car registrations have fallen, and recent deliveries were below expectations, impacting stock performance.
October 16, 2024 | 6:05 am
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Tesla has been approved to expand its Berlin Gigafactory, despite local protests. This expansion is crucial for increasing production capacity. However, Tesla's EU car registrations have dropped, and recent delivery numbers were below expectations, affecting stock performance.
The approval for expansion is a positive development for Tesla's long-term production goals. However, the protests and environmental concerns could pose challenges. Additionally, the drop in EU car registrations and below-expectation delivery numbers have negatively impacted the stock, balancing the short-term outlook.
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