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Tesla’s Berlin Gigafactory back online after arson sabotage
Power is restored earlier than expected at the Tesla gigafactory near Berlin after a week-long outage caused by arson, the factory’s chief said Monday.
A far-left activist group called Vulkangruppe, translated as the Volcano Group, had claimed responsibility for an arson attack on a nearby electricity pylon that knocked out the factory’s power on March 5.
“Lights ON!” said Andre Theirig, senior director of manufacturing at Giga Berlin, in a LinkedIn post Monday. “The power supply to the Gigafactory has been restored for a few minutes. Now, under all safety precautions, the measures for the restart are in full swing.”
Ticker | Security | Last | Change | Change % |
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TSLA | TESLA INC. | 177.77 | +2.43 | +1.39% |
E.dis, a division of German energy network firm E.ON, confirmed late Monday that the factory had been reconnected to the power grid over the weekend. It said Tesla was reconnected to the grid at 8:45 p.m. local time.
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“It will certainly take some time before we have fully resumed production, but the most important step has been taken! Power ON!” Theirig said.
“Many thanks to E.DIS for the quick recommissioning and to all those involved and especially to our employees for their support over the last few days,” he added.
Tesla said earlier on Monday that production would gradually resume at the factory, which employs around 12,500 staff, after the power came back on.
“It is not yet possible to say how long it will take until production can be fully resumed,” Tesla told Reuters in a statement.
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The company had said last week it expected the outage to last at least until March 15.
Joerg Steinbach, the economy minister in Brandenburg, said E.dis employees had been working in a three-shift mode to ensure electricity could flow as soon as possible.
The outage prevented Tesla from meeting its production goal of around 1,000 cars per day, with the plant head saying the disruption would cost hundreds of millions of euros in damages.
The Volcano Group took credit for the arson in a 2,500-word letter attacking Tesla and CEO Elon 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.
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“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.
“Tesla consumes earth, resources, people, workers, and in return spits out 6,000 SUVs, killer cars and monster trucks each week,” it stated.
Musk ripped the arson attack in several posts on X last week.
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“These are either the dumbest eco-terrorists on Earth or they’re puppets of those who don’t have good environmental goals,” Musk wrote.
“Stopping production of electric vehicles, rather than fossil fuel vehicles, ist extrem dumm,” he said, using the German for “extremely dumb”.
Reuters contributed to this report.
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Predictions for Mortgage Rates in 2024: What to Expect
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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