Macron Urges Musk to 'choose France'
President Emmanuel Macron courted global CEOs, including Elon Musk at Versailles, inviting them to invest in France.
President Emmanuel Macron courted global CEOs, including Elon Musk at Versailles, inviting them to invest in France. The Tesla CEO said it would happen at some point.President Emmanuel Macron met billionaire businessman Elon Musk on Monday as part of efforts to convince global business leaders to invest in France.
The chief executive of Tesla, Space X, and Twitter is just one of 200 international business leaders who gathered at the "Choose France" event at the Palace of Versailles.
Macron and Musk discussed "significant progress in the electric vehicle and energy sectors," as well as digital regulation, the French leader wrote on Twitter.
Later Musk vowed Tesla would make "significant investments" in France at some point.
"I'm very impressed with President Macron and the French government and how welcoming they are to industry," Musk said.
What France wants from Musk
French Finance Minister Bruno Le Maire also met Musk to discuss new tax credits for investments in green technology.
Last week, Macron announced incentives to support innovative industries and transition towards greener technology, including tax credits in fields like battery production, electric cars, hydrogen, and wind power, and accelerating authorization for industrial projects.
Le Maire gave no details of Monday's talks with Musk, saying simply that, "all of today's investments are the fruit of months or even years of negotiations."
France has previously tried to convince Musk to build a European gigafactory in the country, but he chose Germany for his only European gigafactory.
More than 200 CEOs attend 'Choose France'
Some of the other prominent CEOs attending the summit include Sunil Bharti Mittal of Indian conglomerate Bharti Entreprises, ArcelorMittal chief Lakhsmi Mittal, and Nokia chief executive Pekka Lundmark.
Those attending the conference have already committed to invest a combined €13 billion ($14 billion), the most since Macron held the first annual gathering in 2018.
It was a welcome boost for Macron, whose popularity has suffered from a widely unpopular move to raise the French retirement age.
lo/jcg (AP, AFP, Reuters)
(The above story first appeared on LatestLY on May 15, 2023 11:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).