Tesla officially inaugurates its 'Gigafactory' in Berlin with rollout of Model Y to customers
Spencer Platt/Getty Images News


Electric car manufacturer Tesla (NASDAQ:TSLA) is opening its fourth Gigafactory and first in Europe today in the outskirts of Berlin.
The company says its new âGigafactory" will employ 12,000 people and produce 500,000 vehicles a year, at full capacity, more than the 450,000 battery-electric vehicles that rival Volkswagen sold globally in 2021 - and generate 50 gigawatt hours (GWh) of battery power, surpassing all other plants in the country.

German Chancellor Olaf Scholz and Economy Minister Robert Habeck said the opening of the factory was âa nice symbolâ that gasoline-powered cars can be replaced with electric vehicles at a time when Germany and other nations are trying to reduce their greenhouse gas emissions and wean themselves off Russian oil.
As part of the inaugural ceremony, the EV maker is handing over to the customers 30 Model Y compact SUVs, first production cars made at the factory, which have a range of 320 miles and prices at â¬63,990.
The company has made a huge investment of â¬5B to build a production facility in Europe - BBC.
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