Tesla’s German Adventure

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Elon Musk and his electric car company got the final approval for a gigafactory close to Berlin. It could change Tesla – and Germany.

  • The US based electric car manufacturer Tesla received a go-ahead for its German gigafactory near Berlin, ending months of delay. With a cost of 5 billion Euro, it is a landmark investment for Germany.
  • Tesla’s firebrand chief executive Elon Musk had struggled with German regulations for a long time. The project in Brandenburg met strong resistance from local residents and environmentalists.
  • The investment is bringing jobs and perspective to an economically underdeveloped German region that, after German reunification, suffered from job losses and deindustrialisation.
  • But for other parts of Germany, Tesla’s arrival could bring trouble. Tesla is a new player in the heart of Europe’s automotive industry, competing with BMW, Mercedes and Volkswagen.
  • After years of underwhelming sales, the electric car industry picked up speed in 2020 and 2021. Government subsidies and harsher regulations for combustion engines played their part.
  • Battery-driven electric vehicles symbolize the industry’s hope to find its place in a world where companies and individuals are keen to reduce their carbon footprint .
Financial Times
The Economist
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