The United States, a new El Dorado for industrialists

American manufacturers, such as First Solar in Alabama, are increasing investment in their country of origin. DANE RHYS/REUTERS

DESCRIPTION – Seduced by the public support that Joe Biden has decided and by the low energy costs, foreign investors are leaving Europe.

The Swedish battery manufacturer Northvolt, the car manufacturers Volkswagen and BMW, the Italian Enel and its solar component factory or the Japanese Panasonic, which supplies batteries to Tesla… This list is growing day by day. Companies all over the world are investing in the US or suspending their spending in Europe with the aim of relocating their projects. For their part, American industrialists are increasing their investments in their country of origin, such as First Solar in Alabama and mining company Piedmont Lithium.

The Inflation Reduction Act (IRA), a $430 billion (€408 billion) legislative package passed in August, provides aid, subsidies and tax credits. Goals: to decarbonize the US economy, accelerate the energy transition, stimulate investment in the electric vehicle sector and repatriate supply chains to the US. “This plan allocates more funds to…

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