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Tesla unveils plans for Gigafactory in Berlin

Tesla's Gigafactory 2. Source: Tesla Inc

November 13 (Renewables Now) - Tesla Inc (NASDAQ:TSLA) has chosen the Berlin area as the destination for its Gigafactory Europe, founder and CEO Elon Musk announced on Tuesday at an event in the German capital.

The Tesla boss did not reveal the exact location for the facility, but said it will be near the new airport. This would be the company’s fourth factory and second outside the US as it already built one in Shanghai, China. According to Bild, the German project will create some 10,000 jobs.

Musk also mentioned that Tesla plans to establish an engineering and design centre in Berlin.

The company then tweeted that the new factory will build batteries, powertrains and vehicles, starting with Model Y.

"Tesla's decision to build a state-of-the-art electric car factory in Germany is further proof of Germany's attractiveness as an automotive location, and it is also a milestone in the development of electric mobility and battery expertise," stated Peter Altmaier, Germany’s economy minister.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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