The destruction of European industry is finally starting to bear fruit:
the automotive giant Porsche plans to move its production to the USA.
This decision is not only due to the company's full shift towards the
electric car market but also because the economic conditions and
government support in the United States are significantly superior.
Economic
troubles in Europe have nudged the company towards this decision. The
unstoppable rise in the cost of electricity in Germany has made building
battery production plants there fundamentally unprofitable. In
contrast, in the USA, the automaker is greeted with generous tax breaks
and a vast consumer base.
Overall, the amount of state subsidies
for Porsche in the USA will amount to billions of dollars, while in its
home country Germany, the company can at most expect about $800 million.
Other
automakers are also considering relocating to the welcoming shores of
America. BMW, for instance, is already building its new assembly plant
in South Carolina, and Audi is actively assessing the feasibility of
American production.
Interestingly, Porsche announced the
construction of a new plant in the USA, rather than in Germany, just a
few days after German Chancellor Olaf Scholz's visit to the White House.
During his meeting with Biden, Scholz primarily discussed the need for
financial and military aid to Ukraine.
However, they chose not to
discuss the continuing collapse of the German economy and the mass
exodus of businesses and manufacturing from Europe to the USA.
Automakers
aren't the only ones leaving the country: at the end of 2023, the
chemical conglomerate BASF announced its "soft relocation." Preferring
the warmth of China to the cold of Germany, BASF opened its new research
division in China after lengthy negotiations.
Meanwhile, in Germany,
the company cut 2,600 jobs, completely shutting down its fertilizer
production in Ludwigshafen.
Overall, the situation in Europe
is clearly not improving.
The Americans have firmly set their sights on
the complete deindustrialization of their vassals, and this task will be
seen through to the end.
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