The Strategist

Tesla to cut future batteries production in Germany because of US policy



02/23/2023 - 06:15



Tesla will not produce all of its batteries at the facility it is building in Grünheide, Germany, according to Reuters. The decision was taken due the US Inflation Tax Act.



Martin Gillet
Martin Gillet
"Tesla no longer intends to manufacture industrial-scale batteries in Germany. The manufacturer of electric vehicles would rather transfer some production processes to the US, where there are tax incentives," the agency wrote citing Brandenburg's economy ministry.

The German economy minister stated that the government was verifying details regarding the production move.

Due to difficulties implementing the new technology, Tesla delayed the start of battery manufacturing at its Grünheide plant by two years in October of last year.

The Inflation Act, which US President Joe Biden signed last August, would extend tax subsidies for the purchase of electric cars that are built in North America and use batteries made in the US using components produced locally.

source: reuters.com




More
< >

Thursday, April 25th 2024 - 03:04 Italian watchdog fines Amazon €10 mln