Tesla Stock Jumps Over 3% in Morning Trading

Tiger Newspress2023-02-27

Tesla Gigafactory Berlin has achieved a new milestone. As per a recent announcement from the electric vehicle maker’s official social media account for Europe, Giga Berlin has successfully produced 4,000 Model Y in one week. Tesla Stock Jumps 3.83% in Morning Trading.

With its recent milestone, Giga Berlin has achieved a run-rate of 208,000 Model Y annually. That’s quite impressive for the facility, considering the headwinds and red tape it has faced over the years. Overall, Giga Berlin’s overall ramp appears to be going well.

Gigafactory Berlin and Giga Texas were opened just a few weeks apart. This suggests that Giga Texas’ vehicle production would likely hit 4,000 Model Y per week in the near future. Once this milestone is achieved, the contributions of the two new factories could become more substantial to the company’s overall numbers.

With the 4,000 Model Y per week milestone reached, Giga Berlin will likely continue ramping its operations until it reaches its next target. This target is likely an output of 5,000 Model Y per week, which would translate to a run rate of about 260,000 vehicles per year.

Giga Berlin is a bit special among Tesla’s vehicle production facilities. It is equipped with the company’s most advanced paint shop, which allows the factory to produce two exclusive colors — Quicksilver and Midnight Cherry Red — that are not available elsewhere. Both paint options are arguably the best that Tesla offers today.

Similar to other Tesla factories, Giga Berlin is expected to produce both vehicles and batteries. But as per earlier reports, Tesla is only producing individual components at the plant’s battery facility for now. Brandenburg Economics Minister Jörg Steinbach (SPD), however, has noted that Giga Berlin’s battery plant is already buzzing with activity.

“The building is buzzing. It’s full… What is manufactured there as a preliminary product on the spot fully utilizes this building on the spot,” Steinbach previously said.

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