Germany’s IG Metall union has suffered a setback at Tesla Inc.’s (NASDAQ:TSLA) Gigafactory in Berlin after it failed to secure a majority at a key election in the plant.
IG Metall Loses Election
On Wednesday, Gigafactory Berlin’s Director André Thierig shared the news via a post on the social media platform X, hailing it as “good news” for the facility situated in Gruenheide near Berlin.
“The union share was reduced from nearly 40% in 2024 to 31% in 2026!” Therig shared, adding that it was a “clear message” that the workers at the factory were moving “towards an independent co-determination!”
Per Reuters on Wednesday, the union said that Tesla’s management has been stoking anti-union sentiments in the facility’s workforce. The union is a majority at councils across Germany’s automotive industry.
Workforce Cuts, Falling Sales
Meanwhile, Tesla announced a price hike of the Cybertruck’s affordable Dual Motor All-Wheel Drive variant by $10,000, with the lineup now starting at $69,990 for the base trim and going all the way up to $99,990 for the top-spec Cyberbeast trim level.
Benzinga Edge Rankings show that Tesla scores well on the Momentum metric and offers a favorable price trend in the Long Term.
Price Action: TSLA jumped 3.44% to $405.94 at market close on Wednesday, gaining an additional 0.20% to $406.74 during the after-hours session.
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