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Suspected arson shuts down production at Tesla’s Gigafactory in Germany
Former Tesla board member Steve Westly reacts to the beaten stock price following Elon Musk’s warning of a production slowdown in 2024.
Tesla CEO Elon Musk slammed a suspected arson attack on his Gigafactory near Berlin as “extremely dumb” after far-left activists claimed responsibility.
German authorities said a fire brigade responded Tuesday after an electricity pylon close to the facility was set ablaze, knocking out power and forcing production to stop. The head of Tesla’s factory – Musk’s first in Europe – told Reuters power is expected to be down for several days and confirmed the site was evacuated.
In an update on Wednesday, German media reported the factory will remain without power until at least the end of next week.
A purported far-left activist organization called the Volcano Group took credit for the incident in a 2,500-word letter attacking Tesla and Musk that was distributed to local media. Police said they were aware of the letter, which was signed “Agua De Pau,” the name of a volcanic mountain in the Azores, and said they were checking its authenticity.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 180.74 | -7.40 | -3.93% |
“These are either the dumbest eco-terrorists on Earth or they’re puppets of those who don’t have good environmental goals,” Musk wrote on X.
TESLA RAISES PRICE OF SOME MODEL Y VEHICLES IN US
Tesla’s Gigafactory Berlin-Brandenburg building in Gruenheide, Germany, July 18, 2023. (Annegret Hilse/File Photo / Reuters Photos)
“Stopping production of electric vehicles, rather than fossil fuel vehicles, ist extrem dumm,” he said, using the German for “extremely dumb”.
Authorities have vowed consequences for whoever set the pylon on fire. The damage temporarily knocked out power for several surrounding communities.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 180.74 | -7.40 | -3.93% |
“If the initial findings are confirmed, this will be a perfidious attack on our electricity infrastructure,” said local Brandenburg state Interior Minister Michael Stuebgen, according to Reuters.
“That will have consequences. Here, thousands of people were cut off from basic services and put in danger,” he said, adding that the state would react with the “utmost severity.” But Stuebgen cautioned against jumping to conclusions about the possible perpetrators.
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Police work next to a damaged pylon after Tesla’s Gigafactory near Berlin halted production and was left without power after suspected arson set an electricity pylon ablaze, in Germany, March 5, 2024. (Lisi Niesner / Reuters Photos)
The area around Tesla’s Gigafactory has been targeted by various environmental protests since Musk opened the facility two years ago.
“We sabotaged Tesla,” the Agua De Pau letter stated, per Reuters. The letter described the attack as a gift for International Women’s Day on March 8.
ELON MUSK PROVIDES UPDATE ON TESLA ROADSTER TIMELINE
The electricity pylon that was set ablaze, near Steinfurt, Germany, March 5, 2024. (Lisi Niesner / Reuters Photos)
“Tesla consumes earth, resources, people, workers, and in return spits out 6,000 SUVs, killer cars and monster trucks each week,” it stated.
Plans for Tesla to expand its factory site, which manufactures about 500,000 electric cars per year, were opposed by local residents who voted down a motion to cut trees down for construction, Reuters reported.
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Tesla aims to double the site’s capacity to 100 gigawatt hours of battery production and 1 million cars per year, which would position Musk to dominate the European market.
Environmental activists have built and occupied tree houses in the forested area around the plant they expect to be cleared if the expansion is approved.
Reuters contributed to this report.
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As we look ahead to 2024, many homeowners and prospective buyers are wondering what to expect when it comes to mortgage rates. The landscape of the housing market is constantly changing, so it’s important to stay informed about trends and predictions. In this blog post, we will discuss some factors that could impact mortgage rates in 2024 and what homeowners and buyers can expect.
One factor that could impact mortgage rates in 2024 is the overall state of the economy. If the economy is strong and growing, we may see higher mortgage rates as the Federal Reserve looks to combat inflation. On the other hand, if the economy is stagnant or in a recession, we may see lower mortgage rates as the Fed looks to stimulate growth. It’s important to keep an eye on economic indicators such as GDP growth, unemployment rates, and inflation to get a sense of where mortgage rates may be heading.
Another factor that could impact mortgage rates in 2024 is Federal Reserve policy. The Fed plays a key role in setting interest rates, and their decisions can have a ripple effect on mortgage rates. If the Fed decides to raise interest rates in response to inflation, we may see an increase in mortgage rates. Conversely, if the Fed decides to lower interest rates to stimulate growth, we may see a decrease in mortgage rates. Keeping up with the latest news and announcements from the Fed can give homeowners and buyers a sense of where mortgage rates may be heading.
In terms of specific cities and local mortgage companies, it’s important to note that mortgage rates can vary depending on location and lender. For example, in a city like New York City, where real estate prices are high, mortgage rates may be higher compared to a city like Indianapolis, where real estate prices are lower. Additionally, local mortgage companies may offer competitive rates and terms compared to national lenders. For example, in New York City, local lenders like Quontic Bank and CrossCountry Mortgage may offer specialized products and services tailored to the needs of local buyers.
It’s important for homeowners and buyers to shop around and compare rates from multiple lenders to ensure they are getting the best deal. Websites like Bankrate and LendingTree can be helpful resources for comparing rates and terms from multiple lenders. Homeowners and buyers should also consider working with a mortgage broker who can help them navigate the lending process and find the best mortgage product for their needs.
In conclusion, predicting mortgage rates in 2024 is not an exact science, but there are several factors that could impact rates. By staying informed about economic indicators, Federal Reserve policy, and local market trends, homeowners and buyers can make informed decisions about their mortgage. Shopping around and comparing rates from multiple lenders is key to ensuring you are getting the best deal on your mortgage. Whether you’re looking to refinance your existing mortgage or buy a new home, it’s important to stay informed and be proactive in managing your mortgage.
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