Shulou(Shulou.com)11/24 Report--

Beijing, September 15 (Xinhua) Tesla has suspended plans to produce battery cores in Germany because it is considering qualifying for a tax credit for electric cars and battery manufacturing in the United States, according to people familiar with the matter.

Tesla has been working hard to produce his own batteries and has discussed shipping the cell manufacturing equipment originally planned for the Berlin plant to the United States, according to people familiar with the matter. Producing more batteries in the United States could help Tesla get additional tax breaks under the inflation reduction Act (IRA). U.S. president Joe Biden signed the bill into law last month.

Analysts say the inflation reduction Act provides a production tax credit that can offset more than 1/3 of the cost of electric vehicle battery packs as long as rechargeable cells are manufactured and packaged in the United States. The law also extends a $7500 tax credit for specific electric vehicles whose batteries meet a number of procurement criteria.

Tesla's move reflects how the new US law is reshaping the electric car industry, accelerating competition to supply batteries and related materials in the US. Tesla has not yet made a comment. In the days after the bill became law, Tesla told Texas officials that it was looking for regional sites to build a lithium-refining plant. Lithium is a key battery raw material, which is mainly processed in China.

"Tesla 4680 batteries may be produced in the Berlin super factory in the first quarter of 2023, with plans to meet the needs of 500000 electric vehicles a year."

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