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.
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.
