Tesla will build its European Gigafactory in the Berlin area. The electric car company’s boss Elon Musk just announced at the award ceremony of the ‘Golden Steering Wheel’ in Berlin. The search for factory employees is on now.
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After two quarters of losses, Tesla closed the third quarter of 2019 with a profit. While sales were near the level of the previous quarter, the fresh business figures this time show a bottom-line improvement of 143 million US dollars.
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Tesla could deliver more than 100,000 electric cars for the first time this quarter. This was indicated by Elon Musk in an e-mail to employees. It has also been announced that production of the Model 3 will start at the Tesla plant in Shanghai on October 14.
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Tesla will increase its prices in China from Friday of this week, slightly earlier than originally planned, according to media reports. The main focus will probably be on imported vehicles from the USA. But the Gigafactory 3 would also be affected.
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It appears the rumours were true: Tesla will buy batteries from LG Chem for its electric car production in China. Media agencies cite inside sources confirming the deal that would affect both the Model 3 and future Model Y.
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During the telephone conference to announce the latest quarterly figures, Elon Musk also commented on the rumours that Tesla intends to produce its own battery cells in the future: There seem to be delays.
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Elon Musk announced in the context of the latest quarterly figure announcement that Tesla co-founder JB Straubel will withdraw from the operational business as Chief Technology Officer and will in future only work in an advisory capacity for Tesla. The new Tesla CTO will be Drew Baglino.
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In the second financial quarter of 2019, Tesla has produced 87,048 cars and delivered 95,356, surpassing all previous quarterly figures and enabling a similarly record-breaking cash flow. CTO, JB Straubel is stepping down after 15 years with the company.
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Tesla has opened the order books in China for the Model 3, which the EV manufacturer will produce in its Shanghai plant, which is still under construction. The first deliveries of the Model 3 from local production are scheduled to start in six to ten months.
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Tesla has secured financing for the first phase of its China plant in Shanghai as it signed credit agreements with Chinese banks for up to 3.5 billion yuan (around 465 million euros).
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Panasonic has lowered its forecast for the 2018/19 fiscal year, which ends in March, following a decline in profits over the winter. However, the Energy division, which also includes the battery business with Tesla, recorded its first operating profit in three quarters at 131 million euros.
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UBS analysts have recently come to the conclusion that Tesla Model 3 cells are by far the most cost-effective. Now latest estimates conclude that over 600 million cells of this type have been produced in Gigafactory 1, thus adding up to a total capacity of just under 11 GWh.
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Tesla appears to operate on an aggressive timeline for producing the Model Y, internal documents leaked to Business Insider show. Tesla sent said documents to engineers ahead of the Q3 earnings call in October and so a Tesla spokesperson called these to be “outdated” by now. Still they reveal ambition.
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After recording a profit in Q3 of this year, Tesla has filed a follow-up report to the SEC. Their latest 10-Q filing concentrates on further growth, particularly in the areas of production and service infrastructure and Tesla is ready to spend billions.
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Berlin has now also placed a bid to bring home the first Tesla Gigafactory in Europe. Senator Ramona Pop already contacted Tesla CEO Elon Musk regarding the idea back in August, as well.
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The plan by Tesla’s battery partner Panasonic to set up three new assembly lines in the Gigafactory 1 in Nevada by the end of the year, will likely be completed ahead of schedule. The expansion will increase the production capacity by about 30%.
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Tesla is looking for staff for their planned electric vehicle factory in Shanghai just one month after receiving approval to set up shop from Chinese autorities. Most roles posted on the Tesla website are at senior level, reaching from architectural designer to experienced finance manager.
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Tesla’s battery partner Panasonic is planning to increase their production capacity at the Gigafactory 1 in Nevada by around 30%. The move is designed to keep pace with Tesla’s rather ambitious expansion plans.
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Tesla has reportedly begun preliminary talks with representatives from the German states of Rhineland-Palatinate and the Saarland, regarding the construction of Tesla’s first Gigafactory in Europe. The facility will produce both cars and batteries.
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BYD’s planned battery factory in Qinghai province is becoming much bigger than previously thought. Bloomberg reports BYD is planning to scale up to full capacity of 24 GWh already next year. Globally BYD aims to churn out 28 GWh this year before doubling their output to 60 GWh in 2020.
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The Gigafactory has hit their production target of 5,000 Model 3 batteries a week. A Tesla manager claimed they more than doubled the production rate over the last three months. If so, it means one bottleneck less and four to go.
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The story of the Tesla saboteur is taking crazier turns. After Tesla sued Martin Tripp, he now claims to be a whistle blower and indeed some recent Tesla scathing media reports may be traced back to him.
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Elon Musk has taken to Twitter – no surprises here – to add some detail to plans for a Gigafactory in Europe. And – here’s the surprise – he named Germany as a “leading choice” mainly due to its location in the centre of Europe.
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Today’s Tesla shareholder meeting has been a success for Elon Musk. Shareholders support him as both CEO and Chairman and also his closest (in every sense) board members. Moreover, plans for production in China are moving ahead.
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Tesla has recently flown in six airplanes full of robots and equipment for the new battery production line from their German subsidiary Grohmann from Europe to the United States.
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The next Tesla Gigafactory will be built in China. This was confirmed by Elon Musk at the press conference regarding the quarter 1 numbers. He expects to be able to reveal the exact location “soon”.
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Tesla Semi electric trucks now transport battery packs from the Gigafactory 1 in Nevada to the EV maker’s facility in Fremont. At the same time, a whole slew of videos and photos have appeared, showing the trucks on the road.
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The EU has announced an open competition to develop new battery technology, valued at 10 million euros. The batteries are to provide a 600 km range for EVs and be chargeable within 5 minutes. They should also be made with materials readily available within the EU.
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Northvolt has found a new backer for setting up a battery cell production pilot plant. The Swedish Energy Agency will support the demonstration line, Northvolt Labs, in Västerås with a grant of SEK 146m. The new line precedes a planned Swedish Gigafactory.
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CATL is speeding up its expansion and wants to build a new Gigafactory by 2020. It would be second only to Tesla’s in size. Construction however can only start if CATL manages to collect 2bn dollars by selling shares before this year’s end.
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