🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Tesla’s German Factory Will Exhaust the Area’s Water Supply

Published 03/18/2022, 06:21 AM
Updated 03/18/2022, 06:45 AM
© Reuters.  Tesla’s German Factory Will Exhaust the Area’s Water Supply
TSLA
-

(Bloomberg) -- Tesla (NASDAQ:TSLA) Inc. has secured water supply for its factory outside Berlin at the expense of any further development in the area, according to the local water authority.

Water reserves for the region are being completely exhausted, Wasserverband Strausberg-Erkner, said in a statement Thursday following a meeting on the Tesla project. WSE said further commercial and industrial development plans aren’t possible without additional extraction permits due to the lack of groundwater extraction.

Concern about Tesla’s plant straining the area’s water supply is one of the main reasons the carmaker will start producing Model Y electric vehicles months later than Chief Executive Officer Elon Musk planned. The economy minister for the state of Brandenburg, where Tesla has constructed the facility, has said that while there was enough water for the first stage of the factory, more will be needed as Tesla expands.

Tesla secured approval for the project early this month and said it expected to obtain an operating license within a matter of weeks. The company has sent out invitations to a delivery day event at the factory on March 22.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.