According to the German business newspaper (Handelsblatt), Tesla's first European factory has received final approval from the environment department of the German state of Brandenburg. After completing some final approval steps, Tesla's German factory is expected to start increasing production soon. Dietmar Woidke, governor of Brandenburg, will hold a press conference on March 4 local time.
The long-awaited approval will help Tesla challenge local competitors in Europe as European competitors such as Volkswagen, BMW and Mercedes-Benz expand their lineup of electric vehicles. Tesla's German factory aims to eventually produce batteries and produce as many as 500000 electric vehicles a year. At this point, Tesla has a production base in Europe, a highly competitive global auto market.
The Tesla German factory project can create thousands of jobs in an area where there is little heavy industry, so German officials have repeatedly expressed support for the project. However, due to the novel coronavirus epidemic, cumbersome procedures and local opposition to the plant's water use, production of the plant has been repeatedly delayed. Musk has been promoting Tesla's Berlin factory in various ways to gain support. He has posted on Twitter in German and maintained close contact with local politicians. Last October, he also held a country party at the Berlin factory in reference to Oktoberfest.
With the rapid growth of electric vehicle sales, Tesla is expanding in Europe. Last year, investment in electric transport in Europe was about $113 billion, up nearly 50 per cent from a year earlier, according to Bloomberg New Energy Finance (BloombergNEF). In the next few years, the region's electric car market is expected to be larger and more competitive than that of the United States.
![Cobalt Product Quotes Keep Falling, Cobalt Sulphate and Cobalt Chloride Post Five Consecutive Declines; When Will Prices 'Bottom Out'? [Weekly Observation]](https://imgqn.smm.cn/usercenter/lzgUR20251217171731.jpg)
