Tesla Expected To Secure Green Light For Giga Berlin By End Of Next Week: Report

Tesla Inc TSLA is expected to secure a green light for the start of production at the Berlin gigafactory by the end of next week, Tesmanian reported ((via tagesspiegel) on Sunday, citing a German news outlet.

What Happened: The Elon Musk-led electric vehicle maker is preparing for a grand opening ceremony that is expected to take place late next month.

See Also: Tesla Giga Berlin Expected To Secure Final Greenlight To Begin Production In Early 2022: Report

The Austin, Texas-headquartered Tesla would hand over the first cars from the Giga Berlin to customers during the planned ceremony, the report noted.

Musk is expected to attend the official opening event along with German federal executives in what is seen as one of the largest projects towards the transition to greener energy.

“At the moment, it is scheduled for March 22 but it may be rescheduled for March 23," the report noted. The ceremony is expected to host 500 “invited guests.”

See Also: Tesla Secures Green Light To Build More Test Cars At Giga Berlin

Why It Matters: Giga Berlin’s start-of-production date has previously been delayed by several months due to a key approval from Germany’s federal authorities linked to commencing commercial production.

Tesla and the relevant local authorities had in December submitted all the requested documents for final clearance.

A regional environmental ministry in Germany in November repeated an online consultation with local citizens to review objections related to Tesla’s Berlin manufacturing facility.

Price Action: Tesla shares closed 1.1% higher at $809.8 a share on Friday.