Tesla to Invest $250 Million in Berlin Gigafactory

Tesla, Inc. (NASDAQ:TSLA) is included among the 10 Best US Stocks to Invest in According to Billionaires.

Tesla to Invest $250 Million in Berlin Gigafactory

A Tesla car. Photo from Tesla website

Tesla, Inc. (NASDAQ:TSLA) designs, develops, manufactures, sells, and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products.

Tesla, Inc. (NASDAQ:TSLA) revealed on May 12 that it would invest $250 million at its Gigafactory outside Berlin, Germany, boosting the site’s capacity to produce battery cells for electric vehicles. Following the latest investment, the automaker plans to create the conditions for an annual ‌production ⁠capacity of 18 GWh, up from a previously planned 8 GWh.

Opened in March 2022, the Berlin-Brandenburg plant is Tesla’s first manufacturing site in Europe. The factory reached a record output of over 61,000 units in the first quarter. It was revealed last month that Tesla, Inc. (NASDAQ:TSLA) plans to ramp up the production of its Model Y at the facility by 20% starting in July 2026, for which the company intends to hire around 1,000 additional workers and convert several hundred temporary employees into permanent staff.

Tesla, Inc. (NASDAQ:TSLA) was also recently included in our list of the 10 Best Battery Technology Stocks to Buy Now.

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