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Move over Tesla, Europe’s building its own battery gigafactories

Battery-making gigafactories are about to arrive in Europe, challenging a lead Tesla is building at a plant in Nevada and opening the way for a quicker shift toward green power for both cars and utilities.

German Chancellor Angela Merkel on Monday is scheduled to break ground at a €500 million plant to assemble lithium-ion energy-storage units for Daimler AG, which produces Mercedes-Benz and Maybach luxury cars.