Tesla is not the only company reviewing its Europe investment after Biden's Inflation Reduction Act
Publishing timestamp: 2023-03-03 08:57:22
Summary
European companies are interested in profiting from US subsidies, but Europe is worried about losing key investments as it struggles with a cost-of-living crisis. US President Joe Biden's Inflation Reduction Act includes a record $369 billion in spending on climate and energy policies, which has raised competition issues for European companies. Companies such as Northvolt, Linde, Volkswagen, Enel, Mytilineos, EDP, Solvay, and Tesla have all expressed interest in profiting from US subsidies. European officials are worried about the simplicity of the IRA and are working on a Sovereignty Fund to provide financing for green projects.
Sentiment: MIXED
Tickers: EDP-PT, ENEL-IT, TSLA, LIN, VOWB-FF, VOW3-DE,
Keywords: ursula von der leyen, politics, united states, u.s. economy, tesla inc, linde plc, volkswagen ag, joe biden, economy, trade, business news, edp energias de portugal sa, europe news, enel spa, germany,