Tesla & BYD Search For New European Factories
, this is Musk’s second journey to France this month. This time in addition to meeting with Macron, he put in an appearance at the Viva Tech summit last Friday. He has also been talking with Italian prime minister Giorgia Meloni, and there are also rumors that Spain could be on Musk’s radar. That country has recently agreed to several economic incentives to attract further investment in auto manufacturing by Volkswagen Group.
There is a fine irony in the fact that those words are from the minister in charge of digital technology in France, since there is a brouhaha brewing in Europe about how Twitter is operating since it was purchased by Musk last year. The EU Digital Services Act that goes into effect in 2024 will require digital platforms like Twitter to hire more people to fact check content and prevent disinformation and illegal content from being published.
There is perhaps a message for Tesla in there. BYD is following what has become common practice in the auto industry by offering many different models to address a variety of market segments. Tesla, to date, relies heavily on the Model Y. While itthe bestselling electric car in the world — and is the bestselling car period in some markets — it is one model and it’s not exactly inexpensive. BYD makes some high end cars, but its focus is on the.
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