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| Tesla to build first European factory in Berlin | Tesla to build first European factory in Berlin |
| (about 7 hours later) | |
| Tesla's chief executive, Elon Musk, has said Berlin will be the site of its first European factory as the carmaker's expansion plans power ahead. | Tesla's chief executive, Elon Musk, has said Berlin will be the site of its first European factory as the carmaker's expansion plans power ahead. |
| Mr Musk said the firm would also build an engineering and design centre in the German capital. | Mr Musk said the firm would also build an engineering and design centre in the German capital. |
| Tesla previously said it aimed to start production in Europe in 2021. | Tesla previously said it aimed to start production in Europe in 2021. |
| The moves come as the firm, which has also invested heavily in a Chinese factory, faces intensifying competition in the electric vehicle industry. | The moves come as the firm, which has also invested heavily in a Chinese factory, faces intensifying competition in the electric vehicle industry. |
| Mr Musk made the announcement at an awards ceremony in Germany on Tuesday. | Mr Musk made the announcement at an awards ceremony in Germany on Tuesday. |
| "Everyone knows that German engineering is outstanding and that's part of the reason we are locating our Gigafactory Europe in Germany," he said. | "Everyone knows that German engineering is outstanding and that's part of the reason we are locating our Gigafactory Europe in Germany," he said. |
| Mr Musk said the facility would be located near the new Berlin airport and later gave more details on what the factory would produce on Twitter. | Mr Musk said the facility would be located near the new Berlin airport and later gave more details on what the factory would produce on Twitter. |
| The focus on Germany comes amid rising appetite for electric cars in Europe. | The focus on Germany comes amid rising appetite for electric cars in Europe. |
| Over the coming years, the biggest electric car production plants will be in Germany, France, Spain and Italy, industry analysis showed. | Over the coming years, the biggest electric car production plants will be in Germany, France, Spain and Italy, industry analysis showed. |
| Some 16 large-scale lithium-ion battery cell plants are confirmed or due to begin operations in Europe by 2023. | Some 16 large-scale lithium-ion battery cell plants are confirmed or due to begin operations in Europe by 2023. |
| China push | China push |
| Tesla's European plan comes as the carmaker also moves ahead with a $2bn (£1.6bn) factory in Shanghai. | |
| The firm is looking to ramp up production in China, the world's biggest car market, where sales have been hurt by tariffs triggered by the US-China trade war. | The firm is looking to ramp up production in China, the world's biggest car market, where sales have been hurt by tariffs triggered by the US-China trade war. |
| The Shanghai facility will produce Model 3 and Model Y cars. The automaker reportedly showed off its new China-made vehicles to local media this week. | The Shanghai facility will produce Model 3 and Model Y cars. The automaker reportedly showed off its new China-made vehicles to local media this week. |
| Still, Tesla has struggled with years of losses, fuelling investor doubts and casting a shadow over its shares in recent years. | Still, Tesla has struggled with years of losses, fuelling investor doubts and casting a shadow over its shares in recent years. |
| The firm has yet to turn an annual profit, although it recorded positive results in the final two quarters of 2018. | The firm has yet to turn an annual profit, although it recorded positive results in the final two quarters of 2018. |
| Last year, Tesla took aggressive steps to slash expense, cutting thousands of jobs and reining in other spending. | Last year, Tesla took aggressive steps to slash expense, cutting thousands of jobs and reining in other spending. |