Tesla intends to invest in France, Following Musk's meeting with the French president

(Image credit- The Telegraph) Following Elon Musk's meeting with Emmanuel Macron, Tesla is considering making new investments in France. The business has long explored France as a potential location for its future Gigafactory, along with other nations in Europe.

Finance in France

On Monday, President Emmanual Macron met with top business executives to encourage them to make investments in the nation. This includes Tesla CEO Elon Musk, who intends to speak with the French president about the possibility of the business investing in France, according to a report. [caption id="" align="aligncenter" width="7114"] Image credit- Reuters[/caption] Musk told the local media that he left the meeting feeling optimistic since it appears that France is serious about making an investment in this relationship, even if there is no guarantee that it would go. The timing of this meeting with the French president is ideal because Tesla has to close a contract on a second factory in Europe. Tesla recently increased output in the Gigafactory Berlin to 5,000 units per week; but, by 2030, they intend to increase their annual global production capacity from 2 million to 20 million units. While Berlin still has room for this anticipated growth, the business may push for a new Gigafactory with relative ease. Macron said, "We talked about the attractiveness of France and the significant progress in the energy and electric vehicle sectors."

Macron and Musk

According to the reports, the two discussed a number of topics of interest, including the French and European reactions to the United States Inflation Reduction Act. Musk was confident in landing this transaction since he was impressed with the administration and the president's stance on the industry. [caption id="" align="aligncenter" width="600"] Image credit- Tech Times[/caption] Only a few days have passed since President Joe Biden's Buy American Green subsidy package was announced in France, prompting this meeting between the CEO and the presidents. By the end of the year, he promised, he would change the current rules and regulations to reward automakers and encourage the purchase of green vehicles. Musk also met with Bruno Le Maire, France's finance minister, to discuss the idea of the business using tax incentives for investments in green technologies made in the nation. La Maire said that in order to prevent ruthless competition between competing businesses, he would prefer to keep the details of their agreements confidential. Also read: Australia and France are preparing to provide artillery shells to help Ukraine’s forces fight Russia According to the reports, Marcon's pro-business reform effort and his advocacy for a lower carbon economy are both opportunities for the French government to retake the initiative with the Choose France conference. The president met with Musk in the Château de Versailles, along with a Pfizer CEO and a few other business leaders.