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Tesla (NASDAQ: TeslaGermany received some positive news on Thursday after the regional council of Grünheide voted in favor of the electric car maker’s plans to expand its gigafactory in the region. Council vote showed 11 MPs supported the expansion, with six voting against and two abstaining.
The Austin-based company still has many hurdles to overcome before it can begin the expansion project, which includes a train station and new roads to reduce heavy truck traffic in the area. Tesla (TSLA) had to revise its original plans to accommodate the criticism. However, Tesla ( TSLA ) still has a long-term goal of doubling the factory’s battery production capacity to 100 gigawatt-hours and having the capacity to produce 1 million vehicles per year.
Tesla ( TSLA ) said disruption by protesters at its Gigafactory in Berlin was a factor in lowering profit margins in the first quarter. However, Tesla (TSLA) also pointed out that the standardized cost of each Model Y vehicle in Austin and Berlin is very close to the cost of the Fremont Gigafactory.
Tesla (TSLA) shares edge up 0.55% were higher late Thursday. Electric vehicle inventories have fallen nearly 30% so far this year.
