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Tesla Establishes European Stock Corporation Ahead of Gigafactory 4's Groundbreaking Ceremony

by Claribelle Deveza December 06, 2019

Tesla Establishes European Stock Corporation Ahead of Gigafactory 4's Groundbreaking Ceremony

Tesla recently established its own stock corporation in Europe to prepare for the rise of its Gigafactory 4. The all-electric car maker seems to be making sure that all its ducks are in a row before construction on its Europe-based facility starts. 

Tesla has set up a European stock corporation under the name Tesla Manufacturing Brandenburg SE. It is owned by the American company’s Dutch equivalent, called Tesla International BV, reported Golem. The European stock corporation is reportedly for its upcoming Gigafactory 4 facility, which will be based in Grünheide, a municipality in the Oder-Spree district of Brandenburg.

According to reports from Europe, the facility for Tesla Manufacturing Brandenburg SE will be placed on the eastern side of Berlin, a separate location from Gigafactory 4. 

Tesla’s European stock corporation will be supporting GF4 in many ways. The company will be handling the design, import, distribution, sales, maintenance, and repair of Tesla’s vehicles in the area. It will also be responsible for the same operations relating to Tesla’s energy storage and solar systems. 

tesla-model-y

Credit: Tesla

There is a lot at stake for Tesla and the local government supporting Gigafactory 4. The American EV maker is reportedly investing 4 billion euros in its facility in Europe. 

According to Maz Online, the state government needs to approve Tesla’s factory construction before any building begins. Gigafactory 4 is expected to span a 300-acre site, which is state property. As such, the local government is handling the transaction with care. For example, Tesla still has to submit documents about its pollution control procedure to the Land Office for the Environment.

If all goes well, Gigafactory 4 is expected to create job opportunities in the area. Around 8,000 jobs are predicted to come from GF4’s construction. Three thousand of those positions are expected to be filled during the early months of Tesla's Europe-based factory. In its early stages, Gigafactory 4 is expected to roll out at least 150,000 vehicles a year. 

Tesla’s European facility will be starting with the Model Y, unlike its counterpart in China Gigafactory 3, which began production on the Made-in-China Model 3 in late November. In Tesla’s initial reports, Gigafactory 4 was also supposed to start with the Model 3, but the company amended its plans later. The electric car maker hasn’t explained why there was a shift in its plans, but it may have to do with Tesla’s future goals as an automaker and growing tech company. 

Featured Image Credit: Tesla

H/T: @gigafactory_4/Twitter



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