Tesla withdraws to the United States

The German sector occupies the space that Elon Musk has left on his territory

Elon Musk has ordered construction of the Tesla battery factory in Brandenburg, on the outskirts of Berlin, to be halted. The company has explained that
the background of this decision The US government’s plan is to provide $7,500 tax incentives for the purchase of 100% domestically produced electric cars, which will shift Tesla’s investment drive to US battery plants and force the German to stop for a second phase of its expansion.

Until the specific terms of these tax incentives are published, works will be suspended in Germany, while Tesla has already filed a file with the Texas Audit Office to investigate the possibility of
a lithium refinery in the southern state. This is why the European Commission has referred to Biden’s tax incentives as “discriminatory” and stressed that it violates World Trade Organization rules.

However, the German administrations are not throwing in the towel. The regional president of Brandenburg,
Dietmar Woidkeand its regional minister of economic affairs,
Jörg Steinbach, have hastily arranged a trip to the United States for political discussions in Washington and a meeting with Tesla representatives. The Federal Minister of Economic Affairs,
Robert Habeck At the last G-7 trade ministers meeting, he also kept this issue aside with his US counterpart, in defense of what he called “fair trade.” After these contacts, the mayor of Grünheide,
Arne Christianichas reported that “works will continue, although Tesla will prioritize delivery of components to the Austin plant for the time being and assign most of its engineers there.”

German industry, meanwhile, is rushing to fill the gap left by Tesla. Volkswagen has floated Porsche to raise money to fund the group’s expensive electrification.

The supply of shares is covered in just 24 hours and among the major investors who have already committed to buy are Qatar’s sovereign wealth fund, Qatar’s sovereign wealth fund.
Norway Norges Bank and t.
Rowe priceeach paying a maximum of 750 million euros, in addition to
ADQ with 300 million.

the german chancellor
Olaf Scholz and Volkswagen CEO laid the foundation stone of the group’s battery cell production plant in Salzgitter in August, with an estimated investment of 2,000 million euros with a capacity of 40 Gwh, and the Czech Republic has been pushing Volkswagen for months to open a new battery factory on its territory .

Source: La Verdad

Ida

I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.