50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Tesla adds 3% on report it plans to build a 25,000 euros car at its Berlin plant

Published 11/06/2023, 06:10 PM
© Reuters.
TSLA
-

Tesla (NASDAQ:TSLA) shares added almost 3% in pre-market Monday trade after Reuters reported that the company is preparing to manufacture a new electric vehicle (EV) model with a targeted price of €25,000.

The intention to introduce this new model was reportedly communicated by Tesla's CEO, Elon Musk, during his recent visit to the Tesla factory in Germany. At the moment, Tesla’s cheapest car in Germany starts at €42,990.

The report does not specify when production for this vehicle will commence.

In other news, the Wall Street Journal reported that Tesla will hike salaries for workers at its Berlin plant. They will receive a 4% salary hike commencing in November, in addition to a €1,500 ($1,609) bonus in December.

Starting from next February, the annual wages for German production workers will see an additional increase of €2,500.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.