Tesla will build Gygafactory in Europe

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Tesla will build Gygafactory in Europe

July 31, 2018 - 16:00
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Tesla Inc has been discussing building of its first new large factory in Europe with authorities in Germany and Netherlands, Reuters informs with reference to Wall Street Journal.

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Tesla Inc has been discussing building of its first new large factory in Europe with authorities in Germany and Netherlands, Reuters informs with reference to Wall Street Journal.

Electric cars producer may place car and batteries plant under one roof in Germany. Tesla already has engineering unit in Pruem, Germany, which is located in 30 km from Belgium and 100 km from French border.

Earlier this month the company informed about plans to construct first foreign plant in China.

Although Elon Musk said that Tesla will have positive cash flow this month, analytics are sure that Tesla will attract financing to implement long list of new projects.

Meanwhile, the company is experiencing problems with meeting production schedule for its new sedan Model 3.

Tesla’s shares fell 2% to $291,43 yesterday morning.

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