Tesla withdraws to the United States

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Elon Musk has given an order to stop the construction of the Tesla battery factory in Brandenburg, on the outskirts of Berlin. The company has explained that the background to this decision is the US government’s plan to provide tax incentives of $7,500 for the purchase of electric cars produced entirely in the national territory, which leads Tesla to shift its investment drive to battery factories in the US and leave the German one for a second phase of its expansion. Until the specific terms of these tax incentives are published, works in Germany are suspended, while Tesla has already submitted a file to the Texas Audit Office to explore the possibility of building a lithium refinery in the southern state. This is why the European Commission has referred to Biden’s tax incentives as “discriminatory” and has highlighted that it violates the rules of the World Trade Organization. The German administrations, however, do not throw in the towel. Brandenburg regional president Dietmar Woidke and his regional economics minister Jörg Steinbach have hastily arranged a trip to the United States for political talks in Washington and a meeting with Tesla representatives. The Federal Minister of the Economy, Robert Habeck, also kept an aside on this matter with his US counterpart during the last meeting of the G-7 Trade Ministers, in defense of what he called “fair trade”. After these contacts, the mayor of Grünheide, Arne Christiani, has reported that “the works will continue, although for now Tesla will give priority to the supply of components to the Austin factory and will assign the bulk of its engineers there.” German industry, meanwhile, is rushing to fill the gap left by Tesla. Volkswagen has taken Porsche public to raise funds to finance the group’s costly electrification. The offer of shares has been covered in just 24 hours and among the large investors who have already committed to buy are the sovereign wealth fund of Qatar, the sovereign wealth fund of Norway Norges Bank and T. Rowe Price, who will pay a maximum of 750 million euros each, in addition to ADQ with 300 million. MORE INFORMATION news No Porsche goes public to obtain 9.4 billion liquidity news No Volkswagen values ​​Porsche at 75 billion in the largest IPO in Europe in ten years news Si Semi, Tesla’s futuristic electric truck is here The German Chancellor Olaf Scholz and the CEO of Volkswagen laid the foundation stone of the group’s battery cell production plant in Salzgitter in August, with an estimated investment of 2 billion euros in a capacity of 40 Gwh, and the Czech Republic has been pressing for months for Volkswagen to set up a new battery factory on its territory.

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