Tesla invests $250 million in a battery factory outside Berlin

Tesla Motors, Inc.

Tesla Motors, Inc.

TSLA

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BERLIN, May 12 (Reuters) - U.S. electric carmaker Tesla said on Tuesday it will invest nearly $250 million to increase battery cell production capacity at its factory outside Berlin, a move that will boost jobs in the region and strengthen its supply chain.

The company stated in a statement that this investment aims to create the necessary conditions to achieve an annual production capacity of 18 gigawatt-hours at its site in Grünheide, southeast of the German capital, an increase from the previous production capacity of eight gigawatt-hours.

The statement added, "The increased production of battery cells will be accompanied by a significant rise in demand for labor."

The statement read, "It is expected that everything from battery cells to electric vehicles will be produced at a single location starting in 2027."


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