Tesla CEO Elon Musk’s statement that the Berlin Battery Factory was the largest in the world was just one stone to catch several birds.
Tesla CEO Elon Musk said the company’s new plant in Germany would be the world’s largest manufacturer of electric vehicle batteries.
Musk was speaking by video link during the “European Battery Conference” organized by German Economy Minister Peter Altmire during the German rotating presidency of the European Union.
3 models for Europe
Musk’s statement means entering Europe with Tesla, enjoying many customs and manufacturing advantages, amid fears that appeared for some time in a trade war between America and Europe, but which may disappear with Trump’s loss in the US elections.
Tesla aims to produce about 500,000 cars annually at the company’s plant in Germany, with a focus on producing the Model 3 and Model Y models.
The Tesla plant in Grunheid near Berlin will be the first to produce both cars and batteries. Tesla produces its batteries in the United States in Nevada, while it assembles cars in Vermont, California.
Last year, the company opened a factory in China.
In his speech, Musk presented plans to produce new compact models of cars with the aim of expanding into the European market.
Musk did not specify when such models would be put on the market.
In September, Musk announced his intention to produce batteries that are much cheaper than those currently available, and to offer an electric car at a price of 25,000 euros (30,000 dollars) only during the next three years.
Another target hit by Musk is related to the Tesla shares, which are flying high since yesterday’s session, as the market value of the electric car company Tesla exceeded $ 500 billion, after its share rose at the beginning of trading by more than 3.3%, to reach about $ 534.8.
Yesterday’s rise in the stock alone contributed to adding about $ 2.5 billion to the fortune of its founder Elon Musk, with his fortune exceeding $ 113.1 billion, according to Forbes ‘intraday list of billionaires’ wealth.
For the second time in the history of the Bloomberg Billionaires Index, Elon Musk made a surprise by rising to second place, while Bill Gates fell to third.
American billionaire Elon Musk, founder and owner of electric car maker Tesla, has put Bill Gates, founder of Microsoft’s software empire, on the list of the world’s richest, to come second on the list with a fortune of $ 127.9 billion, according to the Bloomberg Billionaires Index.