Elon Musk Confirms Oct. 9 Giga Berlin Factory Tour

The long wait for the opening of Tesla, Inc. TSLA's Berlin manufacturing plant may soon end.

What Happened: Tesla is expecting to get approval to make available the first cars manufactured by the Giga Berlin in October, CEO Elon Musk said during a visit to the factory site Friday.

Later in a tweet, Musk confirmed that a county fair and factory tour of the Giga Berlin is scheduled for Oct. 9. The Tesla supremo also said priority will be given for the residents of Brandenburg and Berlin, although the tour is open to general public as well.

The Berlin Giga is situated in Gruenheide, east of Berlin, the capital city of Germany. During his visit to Germany, Musk met with Armin Laschet, a candidate to succeed Chancellor Angela Merkel, at the site.

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Why It's Important: Tesla's Giga Berlin, which was originally planned to go online in July, ran into delays due to opposition by environmental activists and red tape.

Subsequently, a year-end timeframe was considered a viable schedule. Construction at the site began in the middle of 2020. Orders for Model 3s and Model Ys from the region are currently taken care of by exports, primarily from the Giga Shanghai. The Giga Berlin, when it finally comes online, is poised to become Tesla's European hub, ensuring timely delivery of vehicles.  

TSLA Price Action: At last check, Tesla shares were slipping 0.62% to $717.78. 

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