An empty field near Heide in a corner of Germany known more for its cabbage farming is the chosen site for a huge battery factory and potential pillar of the country’s future green economy.
HEIDE, Germany —
But massive green subsidies on offer in the United States — totalling $370 billion — have unsettled the plans and sent European policymakers scrambling to find a response. The potential for thousands of jobs and creating a new local industry was “very important” for the region, as well as Germany and Europe, Heide mayor Oliver Schmidt-Gutzat told AFP.
Were European officials to agree a response to the IRA, “then they are more likely to be here”, said mayor Schmidt-Gutzat.Other industries have started to review their investments. Solar panel makers, such as Italy’s 3Sun and Meyer Burger from Switzerland have already announced the expansion or installation of new projects in the United States.“I think matching the IRA is almost non-negotiable,” said ArcelorMittal CEO Aditya Mittal, whose group plans to invest 1.
“Starting a large-scale and excessive subsidy competition with the United States is not government policy,” German Finance Minister Christian Lindner said at the end of January.
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