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Tesla plans to produce a new entry-level model for its factory in Germany. According to Reuters news agency, the price of the car will be 25,000 euros or the equivalent of 24,000 francs. Tesla boss Elon Musk (52) visited the factory last Friday and used this opportunity to inform about the plans.
Tesla’s best-selling Model Y is rolling off the production line there. An application has been made to double the capacity to one million vehicles per year. Tesla did not want to comment on this matter. Musk’s plans were received positively by investors. Tesla shares were trading nearly 3 percent higher in premarket trading on Monday. The books then went on sale at an increase of over 1 percent.
suspended last year
The electric car manufacturer had been aiming for a low-cost model for a long time, but suspended these plans last year due to unresolved technical problems. In September, Reuters learned that Tesla was about to print the entire underbody of the vehicle in one piece. A breakthrough that could reduce costs and speed up production.
The mass-market model will be an important step for the automaker, which wants to eclipse traditional volume manufacturers Volkswagen, Toyota and General Motors with annual sales of 20 million cars by 2030.
Musk thanked employees
Musk also used his visit to thank employees for their dedication. Tesla announced that they should charge four percent more starting in November. Inflation compensation of 1,500 euros will be added in December, and from February, the annual salary of 11,000 employees will be increased by a further 2,500 euros. The IG Metall union has complained in the past that wages at the US electric car maker are 20 percent below the industry collective agreement and campaigned for members in front of the factory gate last month.
“Allegations that there is a connection between Tesla’s wage adjustments and union activities are untrue,” Tesla said. Wage increases are the result of an internal standard process. Management met with the works council of the Gigafactory in Grünheide (D). (rule)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
