Tesla's Berlin Gigafactory in Germany was officially opened, pulling up nearly 8% overnight to lead the S&P 500, and the market value soared by 520 billion!
According to the Financial Associated Press, on Tuesday (March 22) local time, Elon Musk officially announced the opening of Tesla's first manufacturing plant in Europe.
Tesla has invested nearly 5 billion euros in this gigafactory on the outskirts of Berlin, Germany. At the opening celebration, Musk delivered the first 30 Model Ys to customers in front of German Chancellor Scholz. At the time of delivery, Musk also performed an impromptu "awkward dance."
(Source: Infographic)
Musk called the opening of the plant "another step towards a sustainable future, and it's a great day." He also recalled the Model 3 delivery ceremony at the Shanghai Gigafactory in January 2020, when he also showed some dance moves.
Supply is a big long-term problem for Tesla, and the company has been trying to keep up with demand. According to Tesla's official website, the Model Y and Model 3 have experienced long delivery delays in many places. Not only that, but in recent quarters, Tesla has been using the capacity of the Shanghai Gigafactory to supply European customers.
Musk announced plans to build the Berlin Gigafactory as early as 2019. However, during the construction process, due to the new crown epidemic, local environmental protests and regulatory restrictions, the construction progress of the factory was delayed several times. Even if the factory opens today, there are still many concerns.
As of the close, Tesla closed at $993.98 per share, up 7.91%, with a market value of about $1.03 trillion, and its market value soared by $80 billion (about 520 billion yuan) overnight.
