Tesla factory in Grünheide: Approval for expansion should be a milestone

Tesla factory in Grünheide: Approval for expansion should be a milestone

According to a report by www.finanzen.net,

Anyone who approaches the new entrance to the Tesla factory in Grünheide near Berlin during Advent will pass a small Christmas market. Tesla wants to be different. Above all, quickly: The factory was built and approved in record time for German conditions; it opened in March 2022. The car manufacturer wants to start expanding its electric car factory as quickly as possible in 2024 - if environmental approval comes. “We hope that approval for the first partial application will be granted in the first quarter,” said plant manager André Thierig to the German Press Agency.

Approval for the expansion of the factory in Grünheide must be granted quickly in order to achieve the planned production goals. The carmaker plans to double production from 500,000 cars a year to one million and increase battery cell production. However, Tesla is facing more than 1,000 objections from critics who criticize the planned expansion of the factory site.

Environmentalists have concerns about the expansion, particularly because of the partial construction in the water protection area. Concerns have also been raised about water resources and the planned clearing of forest areas. The decision of the Brandenburg State Office for the Environment (LfU) is still pending and is expected to take into account the concerns of critics.

Tesla shares ultimately lost 0.77 percent in NASDAQ trading. Uncertainty about approval of the expansion and criticism of the project could impact the share price, particularly if approval is delayed or subject to conditions. It remains to be seen how the situation will develop and whether Tesla can implement its expansion plans in Grünheide as planned.