Under Olaf Scholz’s stewardship, the German industry struggles to find new technologies and trade partners to provide the backbone for the coming green transformation.
Scholz needs private sector investment to help him wean the country off coal, gas and nuclear power, which means selling Germany as the destination for next-generation companies. Making matters more complicated, he has to do this while navigating the red tape of EU subsidy restrictions and Germany’s own considerable bureaucracy, and while selling a pandemic and war-weary public on an unpopular truth – the transition to a greener, cleaner world won’t happen without some loss of prosperity.
“If you go back a year, we said, let’s build up Europe first and then go to North America,” Northvolt CEO Peter Carlsson said on Friday in response to a question about the Swedish battery maker’s plans to build a new factory in Germany. “And then the IRA came. It became pretty much impossible to compete in North America unless you build up your manufacturing and your supply chain there.”
“It will be decided this year whether the German government will achieve the expansion targets it has set for itself,” said Simone Peter, Chairwoman of the Renewables Association BEE. The company had “very, very carefully” analyzed whether it would have been more profitable to move certain operations outside of Germany, said program leader Martin Zappe, and ultimately decided against it. “It is a cost game, and that led to the decision being made in favor of Salzgitter,” he said in a recent panel discussion.
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