Tesla Receives Paintshop Permit, Denied Tree Clearing At Gigafactory Berlin

Comments
Loading...

In Germany, Tesla Inc TSLA is busy building the company's European car production factory named Gigafactory Berlin. The factory will make the Model Y and other Tesla vehicles to supply the European market, which currently imports its vehicles from the United States and China.

A report from German news source Der Tagesspiegel says Tesla is progressing in some areas, but delayed in others. Although it's eight weeks later than planned, Tesla can begin installing the machines in the paint shop at Gigafactory Berlin. Brandenburg's State Environment Agency has issued permits for the paint shop, which is one of the pieces holding back construction.

Click here to check out Benzinga's EV Hub for the latest electric vehicles news.

Unfortunately for Tesla, two Brandenburg environmental associations are taking action against the permission to cut down trees that were granted by the State Environment Agency.

"It all boils down to trying to legally prevent the clearing," said Michael Ganschow, managing director of the Green League. Ganschow points to insufficient reason to remove the trees.

Benzinga's Take: Tesla received blowback from removing trees at the beginning of construction, but Musk at the time said Tesla would plant three trees for every one tree removed. Overall, Tesla's mission is to reduce pollution and help the environment by moving the world to sustainable energy. If Tesla replaces the trees removed, it may be reasonable enough to allow construction to continue.

Photo courtesy of Tesla.

Overview Rating:
Good
62.5%
Technicals Analysis
100
0100
Financials Analysis
40
0100
Overview
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!