Elon Musk open Tesla First European factory

Elon Musk formally begins deliveries of Tesla Inc.'s TSLA 7.91% to customers at the first European factory outside Berlin, a milestone in the electric-car maker's international expansion.

"Every vehicle we build will be another step towards a sustainable energy future," he said. "You should have hope in the future. This problem will be solved."

German Chancellor Olaf Scholz lauded the plant as an economic boost for East Germany, which is still in operation more than three decades after reunification with the country's wealthy West.

Tesla vehicles are parked at the company's new plant in Gruenheide, Germany, which aims to produce cars for a region dependent on expensive imports.

Two years in making the factory will allow Tesla to build cars for European markets which currently relies on expensive imports from the US & China & to tailor vehicles to local taste analysts said.

The plant aims to eventually employ 12,000 people and build 500,000 vehicles a year, starting with a sporty crossover Model Y.

One the eve of the plant opening, Mr. Musk tweet: “Makes a huge difference to capital efficiency to localize production within a continent.”

“Tesla cannot fundamentally detach itself from the delivery bottlenecks,” said Stefan Bratzel, director of the Center of Automotive Management, a research institute in Germany.

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