Tesla's German factory plans to increase production, citing strong global market demand
Tesla's factory in Germany plans to increase production capacity for the remainder of this year due to strong sales performance. Factory manager André Thierig stated that the production plans for the third and fourth quarters have been adjusted upward. Despite facing fierce competition from Chinese rivals and a decline in sales, Tesla remains optimistic about the future market, believing that all markets are showing positive signals
According to the Zhitong Finance APP, the head of Tesla's (TSLA.US) factory in Germany stated on Sunday that the company plans to increase production capacity at the German plant for the remainder of this year, driven by strong sales performance.
"Our sales data is currently very impressive, so we have adjusted our production plans for the third and fourth quarters," said André Thierig, head of the factory in Grünheide, near Berlin, in an interview.
For Tesla, the competition in the German market is particularly fierce, partly due to strong pressure from Chinese competitors. Analysts point out that Musk's politically related activities may also have impacted the brand's demand locally.
Data from the German Federal Motor Transport Authority (KBA) shows that in July this year, Tesla's sales in Germany plummeted by more than 50% year-on-year, with only 1,110 vehicles sold; while the cumulative sales from January to July saw a year-on-year decline of 57.8%. Despite this, the company still made the aforementioned decision.
Thierig stated that all markets supplied by the factory are showing positive signals, and this positive trend is not limited to the German domestic market.
"Our product supply covers more than 30 markets, all of which are undoubtedly showing positive development trends," he added
