Post by
happyman48 on Sep 14, 2022 7:32pm
Tesla (TSLA) Halts Battery Production Plans in Germany ,
Tesla (TSLA) Halts Battery Production Plans in Germany as it Seeks U.S. Tax Credits
September 14, 2022 2:40 PM EDT
According to an exclusive report by the Wall Street Journal today, electric vehicle giant, Tesla (NASDAQ: TSLA) has decided to put a pause on the company’s plans to make battery cells in Germany. The electric vehicle giant has been working to produce its own batteries and has discussed shipping equipment intended for use in Berlin to the US for domestic use.
According to the report, citing people familiar with the matter, Tesla is looking at qualifying for U.S. electric vehicle and battery manufacturing tax credits under the Inflation Reduction Act. Making more batteries domestically could help Tesla qualify for the tax breaks. The law provides production tax credits as well as a $7,500 credit to buyers of certain electric vehicles whose batteries meet various sourcing requirements.
https://ca.investing.com/news/stock-market-news/tesla-halts-battery-production-plans-in-germany-as-it-seeks-us-tax-credits-432SI-2771121