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Tesla Secures Approval for Berlin Plant Expansion, Aiming to Double Capacity Amid Local Resistance

Oct 15, 2024, 04:28 PM

Tesla has received approval from German authorities for the first stage of its plant expansion in Berlin. This expansion is part of the company's strategy to double its production capacity at the facility, which has faced local resistance. The announcement comes amid ongoing discussions about potential new models, including a compact car. The approval is crucial for Tesla as it seeks to enhance its manufacturing capabilities in Europe, especially in light of increasing demand for electric vehicles. The company's stock, represented by the ticker $TSLA, remains a focal point for investors as the expansion progresses.