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Is It Time To Invest In Offshore Drillers?

Is It Time To Invest In Offshore Drillers?

Following an “absolutely horrible year,”…

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

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  • 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?

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