Tesla Inc.'s
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Berlin factory being slated for production in the fall is "a positive step on expanding Tesla's broader manufacturing capacity globally," Wedbush analyst Dan Ives said in a note Friday. Chief Executive Elon Musk visited the under-construction plant in Berlin on Friday and said Tesla hopes to make its first cars there in October or sooner. Model 3s and Model Ys made in China are being exported to Europe "in a logistical nightmare that is not sustainable and thus pushing back delivery times for customers throughout the region," Ives said. Berlin as well as the factory under construction in the Austin, Texas area "are key manufacturing hubs that will be key in the long term Tesla EV story as we see down the road the company producing millions of EV vehicles per year vs. roughly (870,000 and 900,000) this year," he said. Capacity and supplies remain the biggest hurdles for Tesla, not demand, Ives said.