Tesla hoax: US automaker may not have received billions in funding

Tesla boss Elon Musk.
Images combine via Patrick Plull/Getty Images

  • American automaker Tesla would have funded a little over a billion euros for the factory in Grunheide if the US had met all the conditions of the IPCEI program. Last year it looked like this.
  • The surprise came at the end of November last year. Tesla announced that it would drop the ten-digit subsidy. It won the US automaker and Elon Musk a lot of accolades and accolades.
  • Now Business Insider has learned from government circles that Tesla may not have received funding. Reason: The technology was not new in Grunheide, as the American carmaker’s factory in Texas was rapidly completed. In the US state, Tesla has used a number of innovative elements that are also installed in Grunheide.

Elon Musk created another sensation in November. Distinctive, fans and critics alike wondered. The billionaire has waived billions in funding for his factory in Grunheide. The applause was great, for finally an entrepreneur who operates without public subsidies, hence the period. The fact that Musk is a master at taking huge subsidies wherever he usually builds his factories was overlooked.

Tesla may have received billions as part of the European IPCEI program. It looked like this for a long time and news was coming from the government circles that the injection of billions was a sure thing. Business Insider has now learned from government circles that Tesla did not meet the subsidy requirements – and therefore would not be entitled to the billions. An essential condition for funding is that a company creates something completely new, an innovation that does not exist anywhere else in the world.

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Tesla failed because of its speed in the United States – or because of multiple delays in Germany, depending on how you assess it. According to government circles, many of the new machines and innovative production systems the carmaker has installed in Grunheide will also be used in the state of Texas. As a result, Tesla no longer meets the crucial innovation criteria for funding.

The East German government had already informed Tesla’s managers late last year that further and longer trials would be pending due to funding, but things were looking bad due to production facilities in Texas. Elon Musk was overtaken by the bad news and decided to stop funding. This has created a state of surprise and confusion in the government circles.

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