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Elon Musk-led Tesla Inc TSLA has reportedly submitted applications to expand production at Gigafactory Berlin-Brandenburg to one million vehicles per year.
What Happened: Tesla has submitted an application for expanding production on the factory premises to the responsible State Office for the Environment, reported Electrek, citing German publication RBB 24.
Tesla has applied for an increase in production from 500,000 at present to a million vehicles per year, the report added. Production has not touched half a million yet at the Gigafactory.
The production facilities required for the expansion need to be set up on existing premises. However, it would require no more water than contractually agreed before, Tesla claimed, as per the report.
See Also: How To Buy Electric Vehicle (EV) Shares
The construction of the Berlin Gigafactory had faced flak from local environmentalists for felling trees and excess water usage. Expansion plans too are likely to face resistance, Electrek noted. As per RBB 24, part of the Gigafactory Berlin site is in a water protection area.
Last month, Tesla said that the production of Model Y cars at the Gigafactory in Berlin touched 4000 per week.
Price Action: Shares in Tesla rose about 2% to $184.13 at the last close, according to data from Benzinga Pro.
Read More: Tesla Slammed With 2 Class Action Suits Alleging Unfair Repair Practices
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Image and article originally from www.benzinga.com. Read the original article here.