REUTERS: Tesla Inc Chief Executive Officer Elon Musk said on Tuesday the electric-car maker will build its first European factory as well as an engineering and design center in Berlin.
Last month, Tesla said it expected its European factory to start production in 2021. The carmaker is also gearing up to open its factory in Shanghai. "Tesla is coming to Brandenburg with a big investment," Dietmar Woidke, state premier of Brandenburg, which surrounds Berlin, said in a statement."We lobbied for this for a long time in intensive talks and with good arguments."The company is yet to prove it can be consistently profitable. Tesla has said it expects to be cash flow positive, but faces big investments with the launch of new factories and development of products including a pickup truck and a semi-truck.
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