Tesla shares Graffiti art on Twitter as it looks to open plant

100
2
Tesla shares Graffiti art on Twitter as it looks to open plant

The NASDAQ, TSLA Giga Berlin, has been a non-starter due to opposition from local environmental groups.

What Happened: Tesla shared an image of Graffiti art on its official Twitter account on Friday, and it was immediately retweeted by its flamboyant CEO Elon Musk. The graffiti is a collage of two paintings with one showing a man wearing a mask and the other showing a hand holding a ball that extends from a building on which Giga is written.

The possibility that the Giga Berlin plant may soon begin operations was the subject of a series of tweets. One Twitter user stated that Giga Berlin has opened or is about to be opened. Related link: EV Week In Review: Tesla Slips Below $1 K Ahead Of Earnings, Nio Begins Locking ET 7 Orders, BYD Raises Prices and More.

Why is it important for the start of production at Giga Berlin. Tesla is facing logistical inefficiencies, as it is primarily exporting made-in-China cars for deliveries in Europe.

In Nov. 2019, Tesla announced Germany as the site for its European production plant. The plant was to be located in Gr nheide, a municipality in Brandenburg, about 30 kilometers southeast of Berlin.

Tesla planned to produce batteries, battery packs and powertrains, as well as assemble Model Y SUVs at the plant. The construction at the site began in June 2020 and the production from the site was originally planned to start in July 2021.

The start of production has been delayed several times due to opposition from environmental groups who complained about the plant's impact on wildlife and water supplies. The Giga Fest was held in October 2021 to mark the completion of the factory.

The permits needed to begin construction haven't been received yet. Friday's session was down 5.26% to $943.90.

Related link: Why This Analyst thinks Tesla is a $2,500 stock and when It May Reach That Price Target?