TSLA Jan 2021 150.000 call

OPR - OPR Delayed Price. Currency in USD
205.75
0.00 (0.00%)
As of 11:32AM EST. Market open.
Stock chart is not supported by your current browser
Previous Close205.75
Open208.00
Bid0.00
Ask0.00
Strike150.00
Expire Date2021-01-15
Day's Range205.75 - 208.00
Contract RangeN/A
Volume5
Open Interest515
  • Almost Time to Sell Tesla Stock
    Investopedia

    Almost Time to Sell Tesla Stock

    Tesla stock's three-month rally has entered a zone of heavy resistance, raising the odds for a multi-week reversal.

  • Tesla (TSLA) to Open First European Gigafactory in Berlin
    Zacks

    Tesla (TSLA) to Open First European Gigafactory in Berlin

    Car production in Tesla's (TSLA) Berlin Gigafactory is likely to begin in late 2021.

  • Sorry Trump, Multinationals Are Still Pouring Cash Into China
    Bloomberg

    Sorry Trump, Multinationals Are Still Pouring Cash Into China

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Foreign companies continue to invest more in China even after President Donald Trump called on U.S. firms to look elsewhere, as the rising spending power of 1.4 billion people proves too hard to resist.Companies from Tesla Inc. to Walmart Inc. are expanding operations in the world’s second-biggest economy, joined by counterparts from Korea, Japan and Europe. That’s helping offset the departure of goods manufacturers that have had to rethink supply chains after U.S. tariffs made their products more expensive.Foreign direct investment into China rose nearly 3% in the first nine months of 2019 from a year earlier, according to the Ministry of Commerce, the same pace as 2018’s increase. While the U.S. outstripped that increase last year, investment has dropped off since Trump became president.“Multinational firms are now more likely to invest in China since serving the market from abroad will be risky given the mutual trade barriers that have been erected and the fact that any truce in the trade war is likely to be only temporary,” said David Dollar, a senior fellow at the Brookings Institution in Washington.Almost 75% of China’s inbound investment is now into services, utilities and other sectors aimed at the domestic market, said Dollar, a former U.S. Treasury attache in Beijing. If anything, the trade war is encouraging companies to ensure they have a China base, he said.That’s the opposite of what President Trump has pushed for: in August the president tweeted that U.S. companies should “immediately start looking for an alternative to China.”“If you go to major U.S. companies and say, ‘well the politics in D.C. says we have to decouple so you are going to leave the China market,’ they would say ‘no we can’t because the prize is too big’,” Arthur Kroeber, head of research at Gavekal said in a presentation in Hong Kong this month.One complication in analyzing the trend is the difficulty in determining how much of the spending represents real investment, and how much is Chinese companies moving money offshore and then bringing it back to the mainland. Some three quarters of China’s FDI in 2018 came from Hong Kong, the British Virgin Islands or the Cayman Islands, which a recent International Monetary Fund report called sources of “phantom FDI.”EV BoomYet there’s also plenty of news demonstrating the big bet on China’s consumer. Tesla is eyeing mass production out of its first factory outside the U.S. in a plant near Shanghai for which the automaker has received as much as $521 million in loans from Chinese banks. Such spending generates a hive of activity right along the supply chain.LG Chem Ltd., the world’s second-biggest manufacturer of lithium-ion battery cells and said to be one of Tesla’s initial suppliers for its made-in-China Model 3 cars, said in October it plans to invest about $430 million in its Chinese business. In June, it teamed up with Geely Automobile Holdings Ltd. on a joint venture to produce electronic vehicle batteries.“China is a focal point for our battery investment,” spokesman Yoo Won Jae said in an interview this month.Economic BoostSuch inflows could help put a floor under an overall slowdown in investment, helping China hit its jobs targets even as the economy grows at its slowest rate in decades.Among other recent announcements:General Electric Co.’s GE Renewable Energy announced in July investments for undisclosed amounts in a new offshore wind factory and operation and development centerBASF SE in January signed a framework agreement with the government of Guangdong Province for a $10 billion manufacturing complex. In a first for a foreign chemical maker, BASF received permission to own 100% of the project rather than work with a local partnersWalmart in July said it will spend 8 billion yuan ($1.1 billion) on distribution centers in ChinaTrade war or not, the lure of 1.4 billion people can’t be ignored, AstraZeneca Plc Chief Executive Officer Pascal Soriot said in an interview at the second annual China International Import Expo in Shanghai. “We have to invest more in China.”Chinese investors have received a frosty reception in the U.S. By contrast, American companies are still being welcomed in China, according to Ker Gibbs, president of the American Chamber of Commerce in Shanghai.“At the provincial and municipal level, we sense an even heightened degree of enthusiasm for foreign investments,” he said. “They are very much courting us.”\--With assistance from Heesu Lee, Dong Lyu and James Mayger.To contact the reporters on this story: Bruce Einhorn in Hong Kong at beinhorn1@bloomberg.net;Enda Curran in Hong Kong at ecurran8@bloomberg.netTo contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, ;Emma O'Brien at eobrien6@bloomberg.net, Bruce Einhorn, James MaygerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    RPT-German automation talent powers Musk's battery move to Europe

    To unclog bottlenecks last year at his Tesla Inc plant in California, Elon Musk flew in six planeloads of new robots and equipment from Germany to speed up battery production for its Model 3. Now the Tesla CEO is trying to tap that German automation ecosystem directly with Tuesday's announcement that the electric carmaker will build a European car and battery factory near Berlin. The new German factory is designed to help change all that.

  • Financial Times

    Tesla/ Germany: 'glorious success' or Schnapsidee?

    German politicians are very excited right now about Elon Musk’s announcement that he will open one of Tesla’s Gigafactories close to Berlin. AP quoted economy minister Peter Altmaier as saying the mooted opening, announced Tuesday evening local time, was a "glorious success" for Germany's attractiveness as an auto industry location.

  • Barrons.com

    The Time to Trade Tesla Is Now

    Aggressive investors with an appetite for risk could sell a put and buy a call in anticipation that Tesla shares will make a sharp move after the company unveils its pickup truck offering on Nov. 21.

  • German automation talent powers Musk's battery move to Europe
    Reuters

    German automation talent powers Musk's battery move to Europe

    To unclog bottlenecks last year at his Tesla Inc plant in California, Elon Musk flew in six planeloads of new robots and equipment from Germany to speed up battery production for its Model 3. Now the Tesla CEO is trying to tap that German automation ecosystem directly with Tuesday's announcement that the electric carmaker will build a European car and battery factory near Berlin. The new German factory is designed to help change all that.

  • Dow Jones Notches Record Close; Disney Hits All-Time High On Streaming Service Subs
    Investor's Business Daily

    Dow Jones Notches Record Close; Disney Hits All-Time High On Streaming Service Subs

    The Dow Jones rebounded Wednesday as positive comments from Fed Chair Powell offset China trade concerns. Disney stock hits buy point. Tesla stock jumps 2%.

  • Bloomberg

    Electric Cars and Floods Stall Johnson’s U.K. Election Drive

    (Bloomberg) -- Boris Johnson found himself arguing that Britain’s future was in making electric cars, just as Tesla announced they’d chosen Germany to build a factory over the U.K. He’s having that sort of campaign.The prime minister had started the day visiting flood victims in Northern England. They weren’t as pleased to see him as he might have hoped. “What more can we do?” he asked one woman. “It’s a little bit too late now,” she replied.Burned by their disastrous 2017 election under Theresa May, the Conservatives chose Johnson as their leader partly because they felt he was a winner, a superstar politician who enjoyed the campaign trail. But on Wednesday, he didn’t look like he was having much fun.It would be dangerous to read too much into this: It’s still a month until polling day, and every poll has the Conservatives comfortably ahead. Johnson is also ahead of opposition Labour Party leader Jeremy Corbyn on questions about who would make the best prime minister.As Britain Votes, Your Enemy’s Enemy Is Your Friend: QuickTakeBut anyone looking for things to worry about in Johnson’s performance could find them. There was the way that he was standing in an electric car factory, making a speech about how Britain was going to lead a technology revolution, on a day when Elon Musk had explained that the uncertainty around Brexit made it “too risky” for Tesla Inc. to build a factory in the U.K.Then there was the speech itself. One of the prime minister’s officials said privately they’d accepted that getting other people to write his speeches is a waste of time – he simply rewrites them afterward.But that is a time-consuming process for a man with a country to run and a campaign to fight.The result can seem confused. For his speech, at an electric taxi factory near Coventry, central England, Johnson had a series of announcements to make about his plans for a revolution in British science. They included:An Advanced Research Projects Agency, modeled on the U.S. Department of Defense’s science wingAn increase in the target for wind-generated electricityInvestment in carbon capture and storage infrastructureInvestment in electric vehicle charging points, so no one in England and Wales is more than 30 miles from a charge pointJohnson failed to mention any of them in his speech. The information was handed out afterward by his staff.None of this may matter. Johnson has long played politics by a different set of rules from the rest of the world, and it’s taken him to the top. His team is counting on that run continuing. They’re also sure that, faced with a choice between Johnson and Corbyn, enough voters will choose the Tory leader.That’s why they’ve agreed to head-to-head televised debates, the first of which takes place Nov. 19.Election debates are a relative novelty in the U.K., introduced in 2010, and repeated in different forms at subsequent elections. The problem arranging them is usually getting the parties to agree to the format. Debates are a zero-sum game, and if one of the two main parties -- Labour and the Conservatives -- thinks it can benefit, the other side usually refuses.The ease with which this year’s debates were agreed stems from the fact that both the Tories and Labour think their candidate will look better for standing next to the other man. It’s likely that one of them is mistaken.To contact the reporter on this story: Robert Hutton in London at rhutton1@bloomberg.netTo contact the editors responsible for this story: Tim Ross at tross54@bloomberg.net, ;Flavia Krause-Jackson at fjackson@bloomberg.net, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • The Funded: Two hefty rounds lead $800M in Bay Area startup funding at midweek
    American City Business Journals

    The Funded: Two hefty rounds lead $800M in Bay Area startup funding at midweek

    The two big rounds were a $400 million round for a Chinese Tesla competitor whose U.S. operations are in Mountain View and a $100 million round for San Francisco-based food delivery unicorn DoorDash.

  • Top Analyst Reports for Microsoft, Novartis & Novo Nordisk
    Zacks

    Top Analyst Reports for Microsoft, Novartis & Novo Nordisk

    Top Analyst Reports for Microsoft, Novartis & Novo Nordisk

  • Johnson Says Brexit Delay Holding Back Economy: U.K. Votes
    Bloomberg

    Johnson Says Brexit Delay Holding Back Economy: U.K. Votes

    (Bloomberg) -- Sign up to our Brexit Bulletin, follow us @Brexit and subscribe to our podcast.Boris Johnson is back in campaign mode following a tricky visit to flood-hit areas of northern England, where his government’s response was criticized by local residents. In a speech at the London Electrical Vehicle Factory in Coventry, the prime minister said getting Brexit done would trigger a wave of investment, and blamed Jeremy Corbyn’s Labour Party for the U.K.’s delayed departure from the European Union.Key Developments:Johnson said a government led by Corbyn would offer “dither, delay, discord, division”Corbyn said a Labour government would not allow a referendum on Scottish independence in its first termFormer Tory minister David Gauke urges voters not to back JohnsonCabinet minister Michael Gove says a majority Conservative government would get a free-trade agreement with the EU done by the end of the Brexit transition period in Dec. 2020Johnson Pledges Investment Boom After Brexit (5:05 p.m.)At a Coventry factory where China’s Geely Automobile Holdings makes London taxis, Boris Johnson promised to boost research and development, including putting more money into electric car charging and offshore wind farms.“We are seeing a new industrial revolution: a green industrial revolution,” Johnson said in a speech. “Creating thousands of environmentally sustainable technologies and thousands of jobs. A glorious rebuttal to the skeptics who said it couldn’t be done.”Johnson said getting Brexit done would trigger a wave of investment into the U.K., and blamed Jeremy Corbyn’s Labour Party for forcing the government to delay Britain’s departure from the European Union. He repeated some familiar attack lines, saying a Corbyn government offered only “dither and delay” and accused Labour of supporting a second referendum on Scottish independence next year -- something Corbyn denied earlier.Voters Quiz Johnson on Tory Funding Cuts (4:15 p.m.)During his visit to flood-hit areas of northern England, Boris Johnson has been meeting local residents -- and there have been some uncomfortable exchanges. In one clip posted by ITV, Johnson was asked about council funding cuts by his Conservative Party since the financial crisis.“Are you going to put it back, what’s been cut over austerity?” a woman asked. When Johnson started to reply about funds for flood relief, another resident interjected: “You’re not answering the question.”“We are increasing funding or councils, I don’t know the exact figures,” Johnson then said.The impact of almost a decade of austerity on local services in England was laid bare in a report by the Institute for Fiscal Studies on Wednesday. With councils concentrating resources on the most needy residents, services including housing, planning, transport and culture have seen their budgets slashed in half since 2009-10.Brutal Cuts to U.K. Local Services Laid Bare as Austerity EndsJudge Blocks Postal Strike During Election (2:40 p.m.)A London judge blocked a potential strike by Royal Mail Plc workers during the peak Christmas holiday season, which this year includes the Dec. 12 general election. The Communication Workers Union members voted 97% in favor of action, but Royal Mail complained of “potential irregularities” in the ballot.The court’s decision removes the risk that large numbers of postal votes could be caught up in strike action ahead of the general election.Brexit Cost U.K. Tesla’s Gigafactory (2:30 p.m.)There was bad news for Boris Johnson’s claim that Brexit will unleash commercial opportunities, as Elon Musk said Tesla Inc. has rejected the U.K. as “too risky” for its European gigafactory.The U.K. was once a candidate for the company’s research and manufacturing facilities, Musk said as he announced he has opted for Germany instead. The uncertainty around the U.K. leaving the European Union made it far too risky a proposition, he told Auto Express.Corbyn: No Scottish Referendum in First Term (12:10 p.m.)Jeremy Corbyn said a Labour government would not allow a referendum on Scottish independence in its first term.“No referendum in the first term for a Labour government because I think we need to concentrate completely on investment across Scotland,” Corbyn said in pooled comments. “I’m very clear that a Labour government’s priority is investment in Scotland.”The issue is a key one because Boris Johnson’s Conservatives have repeatedly said a vote for Corbyn means a vote for two referendums next year -- one on Brexit and one on Scottish independence.Lib Dems See Boost in Farage Pullback (11:45 a.m.)The Liberal Democrats are trying to cash in on Nigel Farage’s decision to pull Brexit Party candidates out of Conservative-held seats.In an interview, party leader Jo Swinson said Farage’s gambit makes it easier for her party to appeal to moderate Tory voters who are appalled by the association with the Brexit Party. She’s also keen to remind voters that U.S. President Donald Trump urged Farage and Johnson to work together.Read more: U.K.’s Liberal Democrats See Opportunity in Brexit Party RetreatVoter to Johnson: Flood Aid ‘Too Late Now’ (10:15 a.m.)Boris Johnson’s visit to flood-stricken areas of northern England has not yet produced the kind of footage the prime minister will have been hoping for.Walking around with reporters and TV cameras in tow, he asked a local woman: “What more can we do?”“It’s a little bit too late now,” she replied, filming the encounter on her smartphone. Another voter declined to discuss the issue with Johnson, turning away when the premier approached.Speaking to Sky News, Johnson said there’s “a lot more still to be done” to help areas affected by flooding, and to prevent recurrences.Labour Pledges ‘Rescue Plan’ for NHS (10 a.m.)The opposition Labour Party pledged to end what it described as a “crisis” in the state-run National Health Service with a funding boost of 26 billion pounds ($33.4 billion). The increase in health spending by an average 4.3% a year will be funded by higher taxes on businesses and the wealthiest taxpayers, Labour said in an emailed statement. The party said it represents 6 billion pounds more in real terms than the government announced last year.“The world-class health service we all need and depend on needs proper funding,” Labour’s economy spokesman John McDonnell will say in a speech in London on Wednesday, according to the party. “Labour’s policies to tax the richest in society and invest for the future through our Social Transformation Fund mean we will be able to improve millions of lives.”Johnson to Vow to End Brexit ‘Groundhoggery’ (9:40 a.m.)In a speech later on Wednesday, Boris Johnson will vow to end the “groundhoggery” of Brexit if he wins a majority in the Dec. 12 election and “unleash Britain’s potential” with a clean energy revolution.“We can get out of the rut,” Johnson will say, according to lines briefed by his office. A coalition formed by Labour Party Leader Jeremy Corbyn and Nicola Sturgeon’s Scottish National Party lies in wait for the U.K. if the Tories don’t succeed, he’ll say.“The country can either move forwards with policies that will deliver years of growth and prosperity, or it can disappear into an intellectual cul-de-sac of far-left Corbynism,” Johnson will say. “We can honor the wishes of the people, or else we can waste more time, at the cost of a billion pounds per month, and have two more referendums, one on Scotland and one on the EU -- an expense of spirit and a waste of shame, more political self-obsession and onanism.”Gove: Tory Majority Only Way to Get Brexit Done (8:30 a.m.)Cabinet minister Michael Gove disputed David Gauke’s assertion (see 7:30 a.m.) that voting for the Conservatives risked a hard split from the European Union. During his broadcast round, Gove told the BBC that Gauke was “precisely wrong” and said a parliamentary majority for the Tories would allow the government to deliver a free-trade agreement with the EU by the end of 2020.“The only way we can get Brexit done and move on with the people’s priorities, investing in policing and education, is by making sure that we have a functioning majority government,” Gove said. He said politicians’ warnings of a no-deal Brexit at the end of 2020 are attempts to “raise bogeys and make people’s flesh creep.”Gove also addressed the flooding in northern England that has rapidly become a key campaign issue. He said the government is releasing extra funds to help affected communities. “It’s certainly an emergency and it deserves a national response.”Gauke: A Vote for Johnson Means ‘Hard Brexit’ (7:30 a.m.)Former Tory Cabinet minister David Gauke urged voters not to support Boris Johnson, warning that “a Conservative majority after the next election will take us in the direction of a very hard Brexit.” Gauke told BBC radio it’s doubtful a free-trade deal with the European Union can be negotiated by Dec. 2020, when the Brexit transition period is due to end.“I think in reality the prime minister is so boxed in that the Conservative Party would not allow him to extend the implementation period even if he wanted to -- and he shows no signs of wanting to do so,” said Gauke, who plans to stand as an independent candidate.Gauke also said he’s “impressed” by Liberal Democrat leader Jo Swinson. “I think if I was living in a lot of constituencies, I would lend my vote to the Liberal Democrats.”Earlier:Johnson Asks Troops to Fight Floods as Weather Hits U.K. BallotU.K. Recent Election Polls Summary: Conservative 40%, Labour 29%Brexit Bulletin: Johnson Told He Can’t Avoid EU ResponsibilitiesJohnson Aims Not to Be Swept Away By Floods: U.K. Campaign TrailTo contact the reporters on this story: Alex Morales in London at amorales2@bloomberg.net;Kitty Donaldson in London at kdonaldson1@bloomberg.net;Robert Hutton in London at rhutton1@bloomberg.netTo contact the editors responsible for this story: Tim Ross at tross54@bloomberg.net, Stuart Biggs, Thomas PennyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • TheStreet.com

    Did Musk Mislead Investors in SolarCity Deal?

    Did Tesla TSLA founder and CEO Elon Musk and others on the company's board mislead investors on the viability of acquiring SolarCity for $2 billion?

  • Brexit drove Tesla to pick Berlin over Britain for new factory - report
    Reuters

    Brexit drove Tesla to pick Berlin over Britain for new factory - report

    Britain missed its chance to host the first European factory of U.S. electric vehicle pioneer Tesla because of Brexit, Chief Executive Elon Musk said in remarks reported on Wednesday. The company had earlier said it chose a location near Berlin for a new design centre and plant to make batteries, powertrains and vehicles, offering a major boost to the German capital. Berlin's minister in charge of economic affairs, Ramona Pop, said the move could create 6,000 to 7,000 jobs in production alone, with hundreds or even thousands more in areas such as design, software or research.

  • UPDATE 1-Germany welcomes Tesla's Berlin move as boost to e-car shift
    Reuters

    UPDATE 1-Germany welcomes Tesla's Berlin move as boost to e-car shift

    The German government on Wednesday welcomed Tesla's decision to set up shop in Berlin, a move it believes will turbo-charge the country's shift into the electric car era even as costs of running a business in Europe's largest economy remain high. The decision, announced by Tesla Chief Executive Elon Musk late on Tuesday, will see the U.S. electric vehicle pioneer build its first European factory and design centre near Berlin.

  • Elon Musk’s German Factory Started With Love Letter From Berlin
    Bloomberg

    Elon Musk’s German Factory Started With Love Letter From Berlin

    (Bloomberg) -- When Elon Musk tweeted last year that Germany was a front-runner for Tesla Inc.’s first European car factory, it sent politicians into a frenzy to win over the billionaire.Berlin’s economy minister, Ramona Pop, responded with a two-page letter that waxed lyrical about Musk as a pioneer and visionary and offered financial sweeteners to attract him to a city bustling with a vibrant tech scene and a network of auto research institutes. She even floated access to a nearby race track where Tesla could take its cars for a spin.As the beauty contest gained momentum, it turned into a battle. Two federal states that border France also touted their virtues. Musk already had a connection with that part of Germany from his purchase of an automation company there a few years ago. There’s also Berlin’s patchy track record shouldering large infrastructure projects -- its new airport remains a mothballed mess, years behind schedule and massively over budget.Yet when Musk’s Gulfstream jet touched down in the German capital early this week, his mind was made up: the European gigafactory would sit on the outskirts of Berlin, with an additional engineering and design center within the city limits. Musk casually dropped the news at a red-carpet award populated by the top brass of Germany’s car industry, including the CEOs of BMW AG and Volkswagen AG, two companies pushing hard into an electric future.“There was very intense competition in recent months among different European nations,” Economy Minister Peter Altmaier told reporters on Wednesday in Berlin. “It’s an important and positive development that Germany was chosen.”Mounting PressureMusk is taking his fight for the future of transport into the heartland of the combustion engine, where the established players long laughed off Tesla as an upstart on feeble financial footing that couldn’t compete with their rich engineering heritage. But Musk has captured the imagination of the think-different consumer, putting pressure on the Germans to respond. Volkswagen has pulled out all the stops, earmarking more than 30 billion euros ($33 billion) to develop the industry’s largest fleet of electric cars.The choice of Berlin and its surrounding area hands Musk several advantages, not least free money in form of subsidies. There’s the proximity to a government keen to sponsor the industry’s transformation. Labor costs in eastern Germany are generally lower than in the traditional engineering hubs in the southern part of the country. And Berlin, where new startups are founded each day, is an attractive place to live for the tech workers Tesla would seek to attract for its design center.The area where Tesla plans to put the factory, called Gruenheide just east of Berlin in the state of Brandenburg, provides quick access via the Autobahn and a link to public transport. It’s a site that BMW had considered before choosing the city of Leipzig a few hours south for a new factory in 2001, the last time a car company built a major new facility in Germany.Roller-CoasterThe government in Brandenburg, one of five federal states in the former communist east, also lobbied hard to win over Musk, offering at least 100 million euros in aid. The state’s negotiators kept up the pressure in the past months, touting Brandenburg’s proximity to Berlin, its skilled labor force and an abundance of clean-energy plants, Premier Dietmar Woidke said.“Berlin can do a lot that we aren’t able to, and we can do a lot that Berlin can’t,” Woidke told reporters in Potsdam. “Together, that’s an unbeatable mix.”Officials in Brandenburg described the negotiations with Musk as an emotional roller-coaster ride, with the politicians struggling to read the billionaire’s intentions. But by last week, things were looking up. After Musk arrived in Berlin, he toured the location where the factory would sit, and he took a local train back to central Berlin to try for himself how long the commute might take.Fresh from his experience building a factory in China, Musk had a demand that was as clear as it was hard to execute for notoriously bureaucratic Germans: to build the site as swiftly as the one in Shanghai, according to Brandenburg’s economy minister, Joerg Steinbach. That caused considerable consternation among officials still chafing from the new-airport debacle.Shanghai FactoryTesla long relied on a single assembly plant, based in Fremont, California, for its car production. The company is on the verge of starting sales of Model 3s produced at its latest facility, near Shanghai, which it erected in record time. Musk estimated earlier this year that Tesla’s European gigafactory probably won’t be operational until 2021.The factory will make batteries, powertrains and vehicles, beginning with the Model Y crossover unveiled earlier this year, he said in a tweet. It’s also expected to churn out the Model 3, which beat out BMW and Audi for the award Tuesday night.With Tesla adding as many as 10,000 jobs to Berlin and the region, according to Bild, it’s also a boon for the German capital and its burgeoning tech scene. Famously labeled “poor but sexy” by a former Berlin mayor, the city has thrived in recent years thanks to a steady influx of young entrepreneurs and IT professionals attracted by the capital’s mix of affordable housing (the city just announced a rent freeze), top-notch universities, and homegrown tech successes including fashion retailer Zalando SE and food delivery startup Delivery Hero SE.In the last five years, Berlin’s population has grown by almost 50,000 annually, underscoring its attraction that can’t be matched by cities like Stuttgart, home to Daimler AG and Porsche, or Wolfsburg, where Volkswagen is based. As a sweetener, the Berlin government offered locations including the site of the existing Tegel airport for Tesla’s design center.Tech HubsThe appeal of Berlin hasn’t been lost on Musk’s rivals. Virtually all the major German carmakers have created tech hubs, and dozens of local startups are active in fields including artificial intelligence, 3D printing and autonomous driving. Tesla will have to compete for local talent with U.S. tech giants including Apple Inc., Oracle Corp., Google and Amazon.com Inc., which is preparing to move into Berlin’s highest office building by 2023 in the rugged-yet-fashionable Friedrichshain-Kreuzberg district.“The Berlin location, home to an ever growing co-working, digitally focused, young programming demographic, has already proved why many German OEMs such as Volkswagen, Porsche, BMW and Daimler are opening digital offices on the Spree” river, said Matthias Schmidt, an independent automotive analyst in Berlin.All the jubilation notwithstanding, Berlin and Brandenburg have their work cut out to build a new home for Tesla. The region lost most of its heavy industry during World War II, and much of what remained after the war was ground up by the country’s separation. Siemens AG is the only global company with a sizable manufacturing footprint in Berlin.And the sprawling new airport, still under construction, is a massive blemish on the region’s record of getting big projects off the ground. It’s an ignominy that was on the U.S. billionaire’s mind when he followed his announcement with an appeal to get the job done.“We definitely need to move faster than the airport,” Musk said.\--With assistance from Iain Rogers, Oliver Sachgau, Christoph Rauwald and Chris Reiter.To contact the reporters on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net;Birgit Jennen in Berlin at bjennen1@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Benedikt KammelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Benzinga

    Morgan Stanley: Tesla China Margins Could Exceed 30%

    Tesla Inc (NASDAQ: TSLA ) shares have been on a tear in the past month, and the stock has now erased all its early 2019 losses. On Wednesday, one big analyst said investors may not be appreciating just ...

  • Benzinga

    Tesla Finally Settles On Berlin For Its Next Gigafactory

    At the annual Goldene Lenkrad (Golden Steering Wheel) auto awards ceremony in Germany, Elon Musk, the CEO of Tesla Inc (NASDAQ: TSLA), announced that the electric carmaker will commence plans on its next manufacturing hub – the Gigafactory – in Berlin. If the plans come to fruition, this will be Tesla's fourth Gigafactory (the others are located in Nevada, New York and Shanghai).

  • Oilprice.com

    Tesla’s Newest Gigafactory Is Heading To The Heart Of Europe

    Tesla is set to build a gigafactory in Germany as the company continues to target international sales, with Musk adding that outstanding German engineering is part of the reason

  • Dow Jones Stumbles On U.S-China Impasse; Tesla Jumps On New Gigafactory
    Investor's Business Daily

    Dow Jones Stumbles On U.S-China Impasse; Tesla Jumps On New Gigafactory

    The major stock indexes traded modestly lower early Wednesday on U.S.-China trade news. Tesla jumped after announcing a new gigafactory.

  • Berlin plant will be second Tesla factory outside of U.S.
    Yahoo Finance Video

    Berlin plant will be second Tesla factory outside of U.S.

    Tesla has chosen Berlin as the site for its first European factory. CEO Elon Musk made the announcement at an awards ceremony in Germany Tuesday. Yahoo Finance's Adam Shapiro, Julie Hyman, Akiko Fujita, Brin Cheung and Pras Subramanian discuss on On the Move.

  • Tesla to Start Mass Production in China as Musk Sets Up Shop in Berlin
    Bloomberg

    Tesla to Start Mass Production in China as Musk Sets Up Shop in Berlin

    Nov.13 -- Tesla Inc. won permission to start mass production at its China factory as Chief Executive Officer Elon Musk announced that Tesla will expand its global manufacturing network with a factory near Berlin. Bloomberg's Dana Hull has the latest on "Bloomberg Technology."

  • Elon Musk to build new Tesla Gigafactory in Berlin
    Mashable Videos

    Elon Musk to build new Tesla Gigafactory in Berlin

    How do you say "That's cool" in German?

  • Tesla's 1st European Gigafactory will be in Berlin
    ABC News Videos

    Tesla's 1st European Gigafactory will be in Berlin

    Tesla CEO Elon Musk announced the location of the company's first Gigafactory in Europe: Berlin, Germany.