Tesla’s Gigafactory Berlin Approved For Next Phase Of Construction

(Benzinga) – Tesla Inc. (NASDAQ: TSLA) is hard at work on two more facilities: Gigafactory Berlin and Gigafactory Texas.

Both sites are being constructed rapidly, with Gigafactory Berlin using pre-fab construction techniques for quick construction.

A new memo from the Ministry of Agriculture, Environment, and Climate Protection in Germany approves Tesla for the next phase of construction at Gigafactory Berlin.

This approval was granted early and gives Tesla the go-ahead to start construction of driven piles as part of the factory’s foundation.

Options Trade Ideas from Benzinga
In this market, there’s never been a better time to profit with options. Get Benzinga Options: Starter Edition to follow Nic Chahine’s high-conviction options trades. Click here to subscribe.

“The State Office for the Environment today approved the early start of a further construction phase for the construction of the Tesla vehicle production facility. Among other things, the construction of driven piles as part of the foundations is permitted,” the German agency said in a press release.

Benzinga’s Take: Tesla is fast at work to build new factories to meet increasing demand. Gigafactory Berlin will be Tesla’s first factory in Europe, and it is expected to start production with the new Model Y, followed by the Model 3.

It seems Tesla has reached a point where doubts about the company’s viability and long-term prospects can be put to rest.