Tesla Gets Green Signal For German Gigafactory

According to local German officials, Tesla Inc. (NASDAQ:TSLA) has received approval to start commercial production at its new facility in Berlin. Tesla's first gigafactory in Europe will be built here. However, obtaining licence for the factory in Brandenburg had previously taken months.

Tesla was meant to begin making cars in 2021, but delays were caused by the pandemic, supply chain troubles, and legal and administrative problems with environmentalists. Locals and environmentalists did all they could to prevent the facility from being built, including protests about the project's impact on the natural environment and concerns about the factory's water demand in the face of frequent droughts in the region.

The plant is expected to produce 500,000 automobiles per year and is located southeast of Berlin. Officials from Brandenburg described the approval as a success during a news conference. According to a CNBC storey, however, the permission does not imply that Tesla would be permitted to begin manufacturing right now. It is subject to a public objection period and other final inspection restrictions, according to the report. Tesla's stock is down about 1% on Friday.

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