Elon Musk picked a glitzy event in Germany, a few hours' drive from the birthplace of the internal combustion engine, to drop the news before some of the world's biggest car bosses: Tesla plans to set up shop in their back yard.

The billionaire CEO announced on Tuesday that Tesla will round out its global manufacturing network with a factory near Berlin. At a red-carpet awards ceremony attended by the heads of BMW, Volkswagen and Audi, he said the company would also establish an engineering and design centre near the city's new airport...

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