• 7 minutes Does S Arabia Have 2 Mln Barrels in Spare Capacity?
  • 16 minutes Google, Hit With Record $5 billion EU Antitrust fine, To Appeal
  • 23 minutes 67.50 was the low for now, $70 - $76+ back in play
  • 2 hours Rally on Hold, if 69.5 don't break, 62.5 could be next.
  • 14 hours Daimler and BMW Will Beat Tesla in EV Race
  • 5 hours Chile Becomes The Latest Country To Commit To 100% Renewables
  • 20 hours Trudeau Shuffles Cabinet, Seeks To Reduce Reliance On U.S.
  • 2 days EU And Japan Sign Historic Free Trade Deal
  • 6 hours China’s Technology Sector Takes On Silicon Valley
  • 19 hours Chartist predicting a $1 fall, after WTI drops $10
  • 4 hours Where 3 Million Electric Vehicle Batteries Will Go When They Retire?
  • 2 days Venezuela, the largest oil reserve in the world, faces deep shortages of motor oil
  • 2 days Trump-Putin Helsinki Summit And Oil Prices
  • 2 days Germany: We Can No Longer Fully Rely On U.S. White House
  • 16 hours Rio Tinto Says $4-Million Goodbye to Coal
  • 2 days Trump mulling releasing 5 to 30 Mill Barrels
China Is Dominating Global EV Markets

China Is Dominating Global EV Markets

Tesla and Nissan have both…

Housing Prices Soar As Oil Boom Escalates

Housing Prices Soar As Oil Boom Escalates

Though the economy is booming,…

Musk: Germany Favorite To Host European Tesla Gigafactory

Tesla factory

Germany is a leading choice for a possible future Tesla Gigafactory in Europe, Elon Musk said on Tuesday.

“Germany is a leading choice for Europe. Perhaps on the German-French border makes sense, near the Benelux countries,” Musk said on Twitter.

Tesla’s chief executive also noted that “To be clear, Tesla European Headquarters will remain in Netherlands.”

Tesla started building its first Gigafactory in Sparks, Nevada, in 2014, and Gigafactory 1 only produces battery cells, packs, and drivetrains.

Musk has said that he is planning other Gigafactories around the world as well.

Earlier this month, during Tesla’s annual shareholders’ meeting, Musk said that the Gigafactory in Nevada had reached one-third of its planned size and “will be, by far, the biggest building in the world.”

Tesla’s chief executive also updated shareholders on the company’s plans for Gigafactories in Europe and China.

Tesla plans to build a Gigafactory in Shanghai, China, with details to be announced as early as in July. The EV maker also looks to build a Gigafactory in Europe, which could be possibly announced by the end of this year. As part of Tesla’s drive to cut production costs for its cars, the company plans to ultimately build as many as 10 to 12 Gigafactories around the world, Musk said.

“Particularly as we try to make cars more and more affordable, it’s getting important to localize production to at least the continent level,” Musk said, as carried by Business Insider.

Related: The Last Oil Frontier In The Gulf Of Mexico

Meanwhile, the Model 3 ramp-up is now priority number-one for Tesla, as thousands of pre-ordered cars have yet to be delivered and investors are increasingly worried that Tesla may not be able to stay on course and that it may fall short of production targets again.

The deadline for 5,000 Model 3s per week is end-June, and this weekend Musk unveiled a new production line built for that.

On Friday night, Musk emailed all employees to urge “radical improvements” if Tesla were to reach its Model 3 targets, according to an email shared with CNBC by a current employees at Tesla.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Louis Spring on June 21 2018 said:
    When Elon Musk starts blaming oil companies, claiming they may be the ones behind the sabotage of his company, I gotta start wondering if Tesla is about to collapse. Oil Companies? Really?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News