For the president, whose popularity has suffered from a widely unpopular proposal to raise the French retirement age, the summit is a chance to justify his pro-business reform drive and shift attention to his promotion of a lower carbon industry, such as electric vehicles.
Seated opposite Macron in one of the Elysee Palace’s gilded rooms, Musk joked that he had to “sleep in the car” in remarks caught on camera before their meeting. Asked by BFM TV about possible investments by Musk, Le Maire said only that “all investments that are being made today are the result of months or even years of negotiations”.Over the last five years, Macron has invited top CEOs to the opulent Versailles Palace to try to secure billions of dollars in foreign investments.
Tesla’s plant near Berlin began delivering cars in March 2022 and produces around 5,000 Model Y vehicles a week, with a maximum capacity of 500,000 cars per year. So far, France has expected a total of 28 investment projects from companies ranging from US pharmaceutical group Pfizer to Swedish furniture maker Ikea and investment bank Morgan Stanley. In total, the projects are expected to create 8,000 jobs.
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