Free Trial

Tesla aims to build 500,000 vehicles per year near Berlin

BERLIN (AP) — Tesla plans to build half a million electric vehicles a year at its future factory outside Berlin.

Planning documents posted online Friday reveal that the U.S. automaker wants to construct Model 3 and Model Y vehicles at the site in Gruenheide, as well as "future models.".

The so-called Gigafactory — Tesla's fourth — will include facilities to assemble entire electric vehicles, including the production of batteries.

The plans will have to undergo an environmental impact review and public consultation.

Tesla aims to start operating the plant in July 2021, an optimistic time frame by German standards. Construction of a nearby airport for Berlin began in 2006 and the opening has been delayed for eight years.

Should You Invest $1,000 in Tesla Right Now?

Before you consider Tesla, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.

While Tesla currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Reduce the Risk Cover

Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Tesla (TSLA)
4.6556 of 5 stars
$241.17-0.2%N/A118.22Hold$292.18
Compare These Stocks  Add These Stocks to My Watchlist 

Featured Articles and Offers

Related Videos

Will Tesla’s Robot Future Save Its Falling Stock?
Tesla Sinks on Musk Drama—Bounce or Bigger Crash?
Marjorie Taylor Greene Bought THOUSANDS in Tesla Stock

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines