Model Y in Europe

Tesla (TSLA) continues to achieve its goal of expanding sales in more markets. The first Model Ys appeared in Europe earlier this month.

Tesla (TSLA) this month began mass deliveries of its Model Y electric cars to Europe from its Shanghai plant, as confirmed by retailers in Germany, according to Electrek.

Tesla's original plan was to ship European Model Ys from the company's plant in Berlin, which should be completed around October. However, due to delays in getting final approvals from German authorities and the public, the launch date for the Tesla Gigafactory Berlin production facilities could be delayed.

Tesla does not say how many of its cars it has delivered to Europe, but according to the China Passenger Car Association (CPCA) exports from the company's Shanghai plant showed a sharp rise to 24,347 cars in July. Analyst firms estimated that 8,210 of those were deliveries of Model Y SUVs and most of them were orders from customers in Europe.

Demand in such a competitive market is a very good sign for Tesla. Ahead of that is the opening and ramping up of production at Tesla's first European plant in Berlin. CEO Elon Musk plans to give members of the local Brandenburg-Berlin community a tour of the plant in October to drum up support and get all final approvals to start production.

One analyst believes Tesla's new plants in Berlin and Austin will be the company's main manufacturing hubs, which will play a major role in Tesla's "long-term electric car story".

"If Tesla launches its Berlin plant in October, it could be a positive boost for the stock, which has been little changed since the start of the year. That's a strong underperformance relative to overall market trends, given that the S&P 500 and Dow Jones Index are up 19% and 16% respectively this year. However, it was preceded by huge gains Tesla shares added 743% in 2020.", the analyst added.