As of: February 15, 2024, 9:00 a.m
By: Bona Hyun
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Porsche has no factories in America, neither for cars nor for batteries.
Nevertheless, the car manufacturer wants to have an important project realized there.
Stuttgart – Germany is threatened with the withdrawal of one of its core industries.
While the USA is becoming more attractive as a location for automobile manufacturers, Germany is becoming less popular for entrepreneurs.
In all likelihood, Porsche does not want to build the Cellforce Gigafactory in Baden-Württemberg as planned.
Instead, the company is considering North America as a location.
A decision by the sports car manufacturer's supervisory board could be made soon.
This is reported by the
Frankfurter Allgemeine Zeitung (F.AZ.)
.
Porsche wants to build a battery plant in the USA and not in Germany
It's about the following project: Porsche wants to build a factory for high-performance batteries with a capacity of up to 20 gigawatt hours.
That would be enough for 150,000 to 200,000 electric cars per year.
According to the FAZ,
the investment amount is
in the mid-single-digit billion range.
Hello... goodbye?: First of all, the current 718 series at Porsche will expire at the end of 2024.
© Porsche AG/Porsche AG/dpa
When looking for a location for the project, the Baden-Württemberg state government had hoped and welcomed “if such a project would be realized in the southwest,” as a spokesman for the Ministry of Economics told the
FAZ
.
If the settlement does not take place in Baden-Württemberg, it would be a “setback,” said the spokesman.
The production of battery cells is an important component of future value creation in automobile production.
Germany less attractive for car manufacturers?
USA attracts with subsidies
According to information from the
FAZ,
the subsidies in particular could be the deciding factor against a location in Baden-Württemberg.
Corporate circles say that North America would be willing to support Porsche with almost two billion euros.
In Germany, the car manufacturer could receive funding of between 700 and 800 million euros.
Porsche CFO Lutz Meschke may have already indicated in 2023 that Porsche is flirting with the USA.
When presenting the half-year figures, he spoke of a “beauty contest” between Europe, the USA and perhaps also Canada.
This involves subsidies, but also energy prices, bureaucracy and other location factors.
In addition to Porsche, BMW and Audi are also considering location expansion in the USA
Porsche is not the only car manufacturer that could relocate production outside Germany and the EU.
The car manufacturer BMW is already expanding and modernizing its Spartanburg plant in the US state of South Carolina.
The Munich group is investing 1.7 billion euros here.
According to the Tagesschau
, its competitor Audi is considering
building its first US plant.
The location is currently “highly attractive,” said Audi boss Markus Duesmann to the
Frankfurter Allgemeine Sonntagszeitung (FAS)
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But the popularity of expanding production to the USA is not just for car manufacturers.
Regardless of whether it is the construction of electric cars, hydrogen production or metal recycling - the USA attracts companies with climate-friendly technologies with generous subsidies.
According to the Tagesschau,
Europe's largest copper company Aurubis is building
a new recycling plant in the state of Georgia, which is scheduled to go into operation in 2024 and will be expanded.
With the “Inflation Reduction Act”, the government of US President Joe Biden is promoting climate-friendly investments in the United States with an enormous total of 430 billion dollars.
According to a survey by the German Chamber of Commerce and Industry, one in ten companies is already planning to relocate production.
(bohy)