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22 Mar 2022

Tesla to Open Gigafactory; Biggest Investment in a German Car Factory

Tesla to Open Gigafactory; Biggest Investment in a German Car Factory

The Index Today

Tesla announced on Tuesday that it will hand its first Model Y cars made at its 5 billion euro ($5.5 billion) Gruenheide plant to clients, launching its first European production hub, tagged as the biggest investment in a German car factory in recent history.

German Chancellor Olaf Scholz confirmed it’s attendance on then upcoming Tuesday's ceremony alongside Tesla Chief Executive Elon Musk, marking a moment Musk had hoped would happen eight months ago but local authorities say has come comparatively quickly for a project of its size.

According to the reports, the opening comes as Musk has flagged Master Plan Part 3 for Tesla, which he said will map out scaling Tesla to "extreme size".

The German gigafactory plans to hire 12,000 workers, and its adjacent battery plant will become the biggest employer in the German state of Brandenburg, where it is based.

©Photo: dpa via AP