EV major Tesla (NASDAQ:TSLA) has halted production at its Gigafactory in Berlin, Germany, due to a power outage. This happened after a high-voltage electricity pylon in a field near the site caught fire due to suspected arson.
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Police stated that while the blaze did not spread to the Tesla plant, the fire brigade was working to extinguish the fire southeast of Berlin. A police investigation is still ongoing.
The company’s Berlin Gigafctory produced 6,000 cars in a week for the first time at the start of this year.
Meanwhile, Tesla’s EV deliveries in China slumped by 19% in February and were down by 16% from January.
Is Tesla a Buy or Sell?
Analysts remain sidelined about TSLA stock with a Hold consensus rating based on 11 Buys, 19 Holds, and five Sells. Year-to-date, TSLA has declined by more than 20%, and the average TSLA price target of $211.58 implies an upside potential of 12.5% at current levels.
