German court halts site preparation for Tesla factory

A German court has temporarily halted the site preparation for Tesla Inc.'s first electric car factory in Europe.

The Higher Administrative Court for Berlin-Brandenburg ordered Tesla to stop clearing trees on the wooded site near Berlin until it considers an environmental group's appeal. In a statement Sunday, the court said it had to issue the injunction because otherwise Tesla might have completed the work over the next three days.

A lower court in Germany ruled last week that Tesla could clear the trees for its factory. But the environmental group Green League Brandenburg appealed, citing the potential for the factory to pollute the area's drinking water and other issues. In its statement, the higher court said there is no reason to assume that the Green League's appeal won't succeed.

German officials celebrated in November when Palo Alto, California-based Tesla decided to build its first European factory in the country. Tesla said the new plant will build batteries and vehicles, starting with the upcoming Model Y SUV. The company had hoped to complete the factory in the middle of next year.

Last month, German officials said 187 pounds of World War II ammunition had been found at the site as Tesla began clearing it.

Tesla has two other vehicle factories in the U.S. and China.

Should you invest $1,000 in Tesla right now?

Before you consider Tesla, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.

While Tesla currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Tesla (TSLA)
4.7624 of 5 stars
$168.29-1.1%N/A42.93Hold$186.70
Compare These Stocks  Add These Stocks to My Watchlist 


Featured Articles and Offers

The Bottom is in For Tesla: Watch This Before Buying the Bounce

The Bottom is in For Tesla: Watch This Before Buying the Bounce

Tesla shares are up more than 10% following the Q1 earnings release, and they may move higher, but investors should not expect a sustained rally; they should only expect volatility.

Search Headlines: