Tesla stock rallied nearly 3% in premarket trading

Tesla stock rallied nearly 3% in premarket trading as it to start production in Germany in December,according to Automobilwoche.

Tesla Inc. will launch its overdue German production operations in December, Automobilwoche reported, estimating as many as 30,000 vehicles will be manufactured there in the first half of 2022.

Production was to have begun in July but was delayed because the company hadn’t received environmental clearance. Local regulators are expected to grant the necessary permits within days, the magazine said, without reporting where it received its information.

Five units of Model Y have already been completed at the Gigafactory near Berlin, though not on the production line. In January, serial production will start with 1,000 cars per week and gradually increase, according to Automobilwoche.