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Tesla-Chef Elon Musk.

Tesla Hoax: The American Automaker Wouldn’t Have Received Billions of Funding

Tesla chief Elon Musk.
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  • US automaker Tesla would have given just over a billion euros in financing for the plant in Grunheide if the Americans had met all the conditions of the IPCEI programme. This is what it looked like last year.
  • The surprise came at the end of November last year. Tesla has announced that it will drop the ten-figure subsidy. This brought the American automaker and Elon Musk a lot of applause and praise.
  • Business Insider has now learned from government departments that Tesla was not going to receive the funding. The reason: The technology at Grünheide wasn’t new, because the American automaker’s Texas plant was completed faster. In the United States, Tesla used several innovative elements that were also installed in the Grünheide.

In November, Elon Musk made another sensation. Typical, fans and critics think at the same time. The billionaire ceded billions in funding for his factory in Grünheide. The applause was said to be great, and finally a businessman who does not do so without government support. The fact that Musk is adept at obtaining generous subsidies wherever he usually builds his factories is overlooked.

Tesla could have received billions as part of the European IPCEI programme. For a long time it seemed like this and it was also reported from government circles as if the injection of billions was a sure thing. Business Insider has now learned unanimously from government circles that Tesla did not meet the requirements for the subsidy – and therefore was not entitled to the billions. An obligatory prerequisite for financing is for the company to invent something completely new, an innovation that is not found anywhere else in the world.

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Tesla failed because of its own speed in the US – or because of the many delays in Germany, depending on how you rate it. According to government departments, many new machines and innovative production systems created by the Grünheide, Texas, car manufacturer are also in use. As a result, Tesla no longer meets the critical innovation criterion for finance. The previous German government had already told Tesla managers at the end of last year that more and longer tests would be on hold due to funding, but things were looking bad due to production facilities in Texas. So Elon Musk preempted the bad news and decided to block funding. This caused astonishment and incomprehension in government circles.