INVESTING BITCOIN CANNABIS CRYPTOCURRENCY ETFS EARNINGS FIXED INCOME Search HOME INVESTING TESLA VS. RIVIAN: BY THE NUMBERS NOV 26, 2021 2:38 PM EST Tesla Withdraws Request for German Aid for Battery Factory 'It has always been Tesla’s view that all subsidies should be eliminated,' Tesla CEO Elon Musk wrote on Twitter. DAN WEIL He said he opposes any form of government aid. “It has always been Tesla’s view that all subsidies should be eliminated, but that must include the massive subsidies for oil & gas,” Musk tweeted. “For some reason, governments don’t want to do that …” Of course, that doesn’t exactly explain why Tesla applied for the aid in the first place. Germany wants to blunt battery competition from China. Tesla’s plant is located in Gruenheide, Brandenburg. Tesla shares fell Friday along with the overall market, closing at $1,082, down 3%. In other Tesla news Friday, it reportedly plans to invest up to $188 million to expand production capacity at its Shanghai factory. The news came from China’s state-run newspaper Beijing Daily, which cited a Shanghai government platform for companies' environmental information disclosures. Reuters also viewed the government platform, but says the investment amount was removed by the time it accessed the document. Tesla's Shanghai factory as is currently designed to produce up to 500,000 cars a year with its 15,000 employees. The investment could add 4,000 people to the workforce. BY DAN WEIL Dan is a freelance writer whose work has appeared in The Wall Street Journal, Barron's, Institutional Investor, The Washington Post and other publications. SEE MORE Terms Of Use Reviews Privacy Policy Advertise Market Holidays 2021 Customer Service Data Topic Dictionary Subscriptions © 2021 TheStreet, Inc. All rights reserved. Action Alerts PLUS is a registered trademark of TheStreet, Inc.