/Teslas Berlin gigafactory to be delayed another 6 months: report – MarketWatch

Teslas Berlin gigafactory to be delayed another 6 months: report – MarketWatch


Production at Tesla Inc.’s new gigafactory outside Berlin will be delayed by another six months, according to a new report.

The German trade magazine Automobilwoche reported Sunday that production will not begin before the end of January 2022, and that Tesla Chief Executive Elon Musk officially gave approval for the six-month delay.

Tesla
TSLA,
+4.79%

had hoped to open the facility on July 1, but permitting issues and plans to also build a battery-cell factory at the site have reportedly contributed to the delay. The massive factory will be Tesla’s fourth worldwide, and first in Europe.

When Tesla reported earnings last week, the electric-vehicle company said its newest factories in Berlin and Texas “are making progress.”

Tesla did not immediately respond to a request for comment Sunday. The company dissolved its media-relations team last year.

Tesla shares are about flat year to date, but are up more than 400% over the past 12 months.

Original Source