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E.ON (OTC:EONGY) Stock, Option Chain

EON AG ADS

Since completing the transformative deal with RWE in 2019, E.On has two core businesses: energy networks and customer solutions. Its retail supply serves around 47 million customers primarily in Germany, the United Kingdom, Eastern Europe, the Netherlands, Belgium, and Sweden. Its networks business operates in Germany, Sweden, Eastern Europe, and Turkey.

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The German factory suffered a power outage and was forced to halt production last Tuesday following an arson attack nearby.

Tesla&#39;s German Factory Back Online After Arson Attack Disrupts Production

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E.ON SE

Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) German gigafactory has reportedly been reconnected to the electricity grid after a week-long outage caused by an<a href="https://www.benzinga.com/government/24/03/37479383/tesla-challenges-mount-in-europe-with-arson-incident-and-expansion-setbacks"> arson attack</a>. 
What Happened: The German gigafactory, located near Berlin, was reconnected to the electricity grid on Monday at 8:45 p.m. local time, Reuters reported, citing the power firm in charge of fixing the disruption.
The German factory suffered a power outage and was forced to halt production last Tuesday following an arson attack nearby. A far-left activist organization named the "Vulkan" Group claimed responsibility for the incident in which no one was injured.
Only last week, Tesla issued a statement that production at the factory would restart this week and return at full speed. "Let's show the &#8216;Vulkan&#8217; group, Germany, the world what we mean by solidarity," a Tesla executive announced in a <a href="https://www.benzinga.com/news/24/03/37573105/elon-musk-declares-tesla-is-hardcore-ahead-of-giga-berlins-production-restart">video statement.</a> "We will restart the factory next week and return at full speed."
Why It Matters: As per Tesla&#8217;s 2023 annual report, the German factory currently has an installed annual vehicle capacity of 375,000 Model Y vehicles, meaning the company could not produce about 1000 cars for every day the factory faced an outage. 
&nbsp;Tesla's gigafactory in Berlin is its <a href="https://www.benzinga.com/news/24/03/37502544/tesla-says-it-is-committed-to-restarting-production-at-giga-berlin-after-arson-by-group-that-alleges">only factory in Europe</a>.&nbsp;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/03/37579140/teslas-director-of-product-design-says-3k-cybertruck-tent-looks-great-when-set-up-properly-blames-ba">Tesla's Director Of Product Design Says $3K Cybertruck Tent ‘Looks Great' When Set Up Properly, Blames Bad Photos For ‘Wrinkled Suit' Look</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tesla's German Factory Back Online After Arson Attack Disrupts Production

JP Morgan upgrades E.ON (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EONGY#OTC">EONGY</a>) from Neutral to Overweight.

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