Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Business

Tesla lashes out at German red tape ahead of planned site opening

2021 04 08T112621Z 1 LYNXMPEH370QV RTROPTP 4 TESLA GERMANY - Global Banking | Finance

BERLIN (Reuters) – Tesla sharply criticised lengthy regulatory processes in Germany ahead of the planned opening of its first European gigafactory this summer.

Tesla plans to have the factory up and running by July 1, 2021 to start building its electric crossover, the Model Y but the process has been slow and complicated by environmental disputes.

In December, Tesla was told by a court to suspend clearing of a forest at the site of the proposed factory after environmentalists said cutting down more trees could endanger hibernating snakes.

“The German approval framework for industrial and infrastructure projects as well as spatial planning directly contradicts the urgency to plan and realise such projects that is necessary to battle climate change,” Tesla said in a letter to a local court seen by Reuters.

Tesla, in the letter dated April 7, said it was “particularly irritating” that there was still no timetable for the final approval of the plant, located in Gruenheide outside Berlin, 16 months after the carmaker applied for it.

The letter, first reported by newspaper Frankfurter Allgemeine Zeitung, urges authorities to speed up processes to ensure investors have more transparency about when their investments in climate-friendly technologies pay off.

Red tape in Germany has also been a problem in the area of wind energy expansion, with some projects taking several years from application to realisation.

(Reporting by Nadine Schimroszik; Writing by Christoph Steitz; Editing by Bernadette Baum)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post