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Tesla to Gets Approval for $5.5 Billion EV and Battery Plant in Berlin

It's stamped and signed, electric vehicles are the future, and for large corporations like Tesla, the world is their oyster. After setting up camp in Asia, Tesla has been looking to capture the European market., and according to the German state of Brandenburg, Tesla's approval for a $5.5 billion factory near Berlin is certain.
Tesla Factory 6 photos
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Tesla has been looking forward to getting the Berlin plant up and running. However, final approval was lacking due to what officials revealed was a scarcity of water resources in the region. Elon Musk did not take the sentiments lightly and was ready to take his business elsewhere.

According to a statement calling for a conference on Friday by the State of Brandenburg, Tesla's approval for a battery and electric vehicle plant in Gruenheide is in the final stages, Reuters reported.

Tesla is already doubling its efforts in China, building its second Gigafactory in Shanghai. The expansion program will set off in March. The second plant will be close to the Gigafactory in Lingang, Pudong.

The automaker is also setting up a design studio in Beijing after approval by local Government agencies in February.

Elon let known his irritation in a letter to German authorities over the delays in approval. He said that the country's complex planning processes were at odds with the urgency to avert the effects of climate change.

Tesla is looking to expand its market in the European region. Currently, VW Group leads in electric vehicle sales, taking up 25% of the market share compared to Tesla's 13%. Elon Musk was planning to have the plant operational by December.

The European region offers a lucrative market for EV manufacturers. Countries like the U.K. will stop the production of ICE by 2030 and are already setting up infrastructure to ease the transition.

With the plant set up in Germany, Tesla will have a fair shot competing for the top cake with the largest automaker in the world, Volkswagen AG.

Editor's note: Images featured are for illustration purposes

 
 
 
 
 

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