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    What Will Tesla's New German Gigafactory Mean For Germany's Auto Industry?

    The electric automaker plans to start building cars outside Berlin this summer, threatening to upend Germany's traditional combustion engine car culture. It's Tesla's first European production site.
    by Rob Schmitz Feb 17, 2021 4 minutes

    Seven years ago, Mathias Döpfner was at a ceremony celebrating Tesla founder Elon Musk. Döpfner, the head of German media company Axel Springer, was seated next to a CEO of one of Germany's biggest carmakers, and he turned to him and asked, "Isn't this guy dangerous for you?"

    As he later recounted, the CEO shook his head. "These guys in Silicon Valley, they have no clue about engineering, about building really beautiful and great cars," the CEO told him. "So we don't have to worry."

    At the time, the value of Tesla's shares was $23 billion, a quarter of that of Germany's largest carmaker, has skyrocketed to more than $700 billion, more than three times that of Volkswagen, Daimler and BMW — Germany's three largest automakers — put together.

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