Originally, Tesla had hoped the facility would open on July 1 of this year; however, this proved optimistic given a number of licensing challenges. In addition, the company is now aiming to have the ability to produce battery cells there, which has added to the time it takes to build it.
Tesla has not yet commented on the Automobile week article.
The Berlin project started in spurts recently. Last December, Tesla reportedly decided to temporarily halt construction because it failed to pay a mandatory $ 100 million security deposit to a German environmental agency. At the time, an article in a German newspaper Time explained that:
Tesla is already licensed to build, although the final building permit has not yet been obtained. In the event that it is never granted, Tesla or another company will have to demolish what has already been built. The financial security deposit serves this purpose. The company now has an extended deadline until January 4, 2021 to [pay the] deposit.
The company apparently did it the following month.
Tesla’s bulls, again in light of a generally encouraging Q1 earnings report, are unlikely to be deterred by Berlin’s apparent delay. However, other investors could lose patience; the stock traded nearly 3.5% on Monday, contrasting with the slight gain (0.3%) of S&P 500 index.