Tesla Inc (TSLA) Eyes Germany for Europe Gigafactory

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has a habit of dropping company news on Twitter, and he just shared another interesting tidbit in response to a user question. Musk has shared which country is the leading candidate to be home to the company’s planned gigafactory in Europe.

Marketwatch has the news on where Tesla may be headed.

Elon Musk, apparently undeterred by President Donald Trump’s warnings of rising crime, said Tuesday he is eyeing Germany as a potential site for Tesla Inc.’s planned European Gigafactory.

In a Tweet response to a question from a follower, the Tesla TSLA, -0.05% chief said Germany is a leading choice for the factory, which is expected to produce lithium-ion batteries that can be used in electric cars.

“Germany is a leading choice for Europe. Perhaps on the German-French border makes sense, near the Benelux countries,” Musk shared in response to a question. The company is still building out its US gigafactory in Nevada.

No specific timeline has been unveiled for Tesla’s European factory ambitions.

Tesla Inc shares fell $1.52 (-0.42%) in premarket trading Thursday. Year-to-date, TSLA has gained 16.34%, versus a 4.29% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #6 of 24 stocks in the Auto & Vehicle Manufacturers category.