After Becoming Second-Richest Man, Elon Musk Announces Plans To Build World’s Largest Battery Plant In Berlin

World's second richest man Elon Musk yesterday (24 November) said that he is planning to build the world's largest battery-cell factory at Tesla's upcoming electric car plant near Berlin, reports Economic Times.

The said upcoming facility called 'Gigafactory' is located in a forested area in Gruenheide which lies south of Berlin. It is set to be Tesla's first such facility in Europe. Once completed, it will be capable of producing 500,000 units of the company's flagship offerings Model 3 sedans and Model Y SUVs each year.

Musk said that the battery factory he plans to build at the upcoming Gigafactory will begin with a capacity to produce around 100 gigawatt-hours (GWh) a year, which will then be ramped up to 250 GWh per year.

It should also be noted that Musk turned into the world's second-richest individual yesterday itself, as he trumped Microsoft founder Bill Gates to the third position.

A serial technology entrepreneur, Musk has made built several iconic ventures which include the likes of Tesla, SpaceX, Neuralink and The Boring Company, which have a presence in electric mobility, space travel and research, neural science, and construction domains respectively.