I simply can't get my head around the decision to build a new...

I simply can't get my head around the decision to build a new production facility.
Current production capacity is 150,000 at a time we produce just below 5000 a quarter or 20,000 annually. Even if we extrapolate peak production numbers last year of 10,000 quarterly, that's only 40,000 per year.

Based on the current annual production number (20,000) if we assume a 20% CAGR, it will take us 15 years to fill the new 300,000 production capacity and that's before accounting for the currently discussed additional production capacity in Thailand.

At that point we have space capacity of 110,000 vehicles. I don't really care if building more capacity demonstrates confidence of the leadership that we will sell as they have clearly judged wrong so far.

The argument that this is a diversification into property doesn't really gel well with me either as that would imply that property investment is currently more attractive than investing into the company, which is an EV company during an EV boom.
I am completely baffled that they are raising capital for a production facility that is not needed at the lowest price point for years.
The whole narrative of recession in Europe is flawed as well, with plug in vehicle sales (incl cars) increasing 42% YOY.