Market Chatter: Tesla Adds $250 Million to German Battery Cell Investment

MT Newswires Live05-12 22:16

Tesla (TSLA) plans to increase its investment in battery cell output at its plant in Gruenheide, Germany, by $250 million, Reuters reported Tuesday, citing a company statement.

The company is targeting annual production capacity of 18 gigawatt hours, up from 8 GWh previously planned, the report said.

In December, Tesla announced investments of 1 billion euros ($1.2 billion), the report said.

Tesla didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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