Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin

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Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin

13.10.2020 News

Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the 52-week high of $ 502.49 reached on September 1.

On Wednesday, Tesla`s CEO, Elon Musk, said that the next year at its plant in Berlin, the company will produce the Model Y with “significant production risk” as will work on a new design of the battery and with the new technologies. The Tesla plant in Berlin is scheduled to launch in the second half of 2021.

Musk noted that Tesla’s plants in Fremont and Shanghai would take about two years to implement the new technology.

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