MCViewPoint

Opinion from a Libertarian ViewPoint

Elon Musk Announces China Tesla Plant After Paying Lip Service to Trump’s Trade Campaign

Posted by M. C. Fox on July 11, 2018

Tesla benefits from millions in U.S. government subsidies

A lot of millions.  US taxpayer, how do I screw thee, let me counts the ways, billions.

No more tax payer supplied production subsidies, no more tax payer supplied buyer subsidies. Don’t let the door hit you…

https://www.breitbart.com/tech/2018/07/11/elon-musk-tesla-china-plant-trump-trade/

by Joshua Caplan

…The announcement has raised questions about how the new facility will be paid for. Tesla benefits from millions in U.S. government subsidies and has been burning through billions of dollars as it has struggled to raise the rate of production of its more “affordable” Model 3 car. At the end of the first quarter, the company had just $2.7 billion of cash on its balance sheet.

According to reports, Tesla’s new factory would be the first in China’s to be wholly owned by a non-Chinese carmaker. The U.S. has criticized China for requiring foreign manufacturers to partner with domestic Chinese companies, a practice the U.S. says facilitates theft of U.S. intellectual property and technology.

But that may not be enough to prevent China from stealing Tesla technology…

Tesla’s China plant further contradicts Musk’s explicit criticism of China’s predatory trade practices in March. He replied to a tweet from President Trump which expressed dismay over the unfair playing field U.S. products face when exported to China. “China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States,” President Trump tweeted. “Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We must act soon!”…

Be seeing you

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