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11/24/2020, 5:56 PM (Source: TeleTrader)
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Tesla Berlin to become largest battery factory - Musk

Tesla's Chief Executive Elon Musk expressed on Tuesday his intention to turn the company's future plant in Berlin into the largest battery factory in the world.

Musk reiterated that his company is interested in expanding to the European market and pointed out the importance of the ongoing construction of Tesla's Gigafactory in the area of Berlin. In response to Musk's announcement, Germany's Economic and Energy Minister Peter Altmaier stated that Tesla could count on "considerable funding" from the state. Moreover, Hildegard Muller from the Association of Energy and Water Industries was optimistic that the investment could create 10,000 jobs.

Earlier in the day, the electric car giant surpassed a $500 billion market cap as the stock rally continued.

Breaking the News / CG