Tesla Stock Extend Gains As Berlin Gigafactory Gets Ready For Production.

Tesla Motors, Inc. (NASDAQ: TSLA) announced that it will deliver its first batch of Model 3 electric cars to the German market today, following approval from authorities.

That marks a new era in Tesla Model 3 history and is part of a long-term strategy to expand production at its factory in Berlin, Germany.

The delivery will allow Tesla to produce an additional 5,000 Model 3 vehicles a week by the end of the year. That is in addition to the thousands of cars already delivered to customers in Europe.

The Model Y is the world’s first production electric sedan and the company’s most significant production high-volume vehicle to date.

The delivery of the Model Y marks an important milestone for Tesla and for the German market, where the company has built its Gigafactory to produce vehicles.

Tesla (TSLA) continues its winning streak with the start of the first shipments from the Berlin Gigafactory.

Tesla Inc shares. The report is about to extend their longest winning streak since last November.

Tesla’s European primary production base will begin delivering approximately 500,000 cars annually after receiving conditional approval from authorities in Berlin-Brandenburg.

The event will be attended by Olaf Scholz, German Chancellor. In addition, Gigafactories in Freemont, California, Shanghai, and New York will be able to operate at total capacity.

That is good news for Tesla and other automakers dealing with rising labor costs and input costs.

Tesla closed its factory in Shanghai for two days last week due to the Covid epidemic, China’s second-largest city.

Jed Dorsheimer is an analyst at Canaccord Genuity and has a ‘buy’ recommendation for Tesla stock. He believes that half of all Tesla cars will be built in Giga Shanghai by 2021. That will make it a global export powerhouse.

The opening of the Giga Berlin, a critical step in Tesla’s efforts to create European supply chains and factories due to geopolitical tensions between Russia and China, is essential. This facility reduces Tesla’s dependence on China.

Tesla stock can start the day with a pre-open at $929.97. On Monday, the market closed at $921.16 (+1.74%) per stock. That would extend its winning streak to six straight sessions, equaling its November record.