Is Tesla challenging the German auto industry?
Now that the factory is open, Tesla hopes to produce roughly 30,000 vehicles in the first six months, with a goal of manufacturing nearly 500,000 cars per year in the future. Gigafactory also aims to generate 50-gigawatt hours of battery power, surpassing all other plants in Germany.As of now, Volkswagen has the largest share in the electric vehicle market in Europe with a 25 percent market size, compared to 13 percent of Tesla.
Investment banking company JPMorgan predicts that Tesla's Gigafactory would produce around 54,000 cars in 2022, increasing to 280,000 in 2023 and finally 500,000 by 2025.Brandenburg Prime Minister Dietmar Woidke must be proud, as several large settlements have failed in Brandenburg in recent years. Failed investments in Brandenburg involve companies such as Cargolifter, which once wanted to build airships in the Dahme-Spreewald and create 500 jobs.
"All of a sudden, Brandenburg is one of the most important automotive locations in Germany," says Steffen Kammradt, Managing Director of . The state-owned agency advises companies and investors looking to establish themselves in the state. Kammradt points out a real boost in investment inquiries since Musk decided on Brandenburg. According to Kammradt, this is"Tesla magic".When the Gigafactory starts full production a new chapter in the global race to dominate the electric car market will begin, as the competition moves to Europe.
The company added Germany to its four fully-operational facilities—three in the US, and one in China.AdvertisementStay ahead with the latest science, technology and innovation news, for free:
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