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    Friday, May 27, 2022

    Tesla Submits Application to Expand German Plant -Report

    Tesla has submitted an application to build on a further 100 hectares east of its plant in Germany, expanding the site's area by a third, local newspaper rbb reported on Thursday, citing the local mayor.

    The electric carmaker, which already has 300 hectares of land for its auto factory and battery plant under construction, planned to build a freight station, logistics areas and parking spaces on the additional space, Gruenheide mayor Arne Christiani told RBB.

    The proposal will be discussed at a municipality meeting on June 2.

    Tesla did not immediately respond to a request for comment.

    The Gruenheide plant, which at full capacity will produce 500,000 electric cars a year, began production in March 2022 after a series of licensing delays which chief executive Elon Musk said ran counter to the urgency needed to tackle climate change.

    Local water suppliers warned when Tesla was granted final approval to begin production at the factory that servicing any future expansion to the plant will be impossible without importing water from other regions.

    Meanwhile, Tesla's chief, billionaire Elon Musk was sued by Twitter investors claiming he manipulated the company's stock price downward, as the chief executive of electric carmaker Tesla mounts a $44 billion takeover bid for the social media platform.

    The investors said Musk saved himself $156 million by failing to disclose that he had purchased more than 5 percent of Twitter by March 14. They asked to be certified as a class and to be awarded an unspecified amount of punitive and compensatory damages.

    They also named Twitter as a defendant, arguing the company had an obligation to investigate Musk's conduct, though they are not seeking damages from the firm. © Reuters

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