Some green tech investors in Europe already have plans to move to the US.
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00:00As Election Day approaches in the U.S., European investors worry about the future of the American
00:07green economy. The U.S. and the U.K. are now top markets for European electric and hybrid
00:13vehicles, with exports rising from 2% in 2017 to 26% in 2023. However, Donald Trump's proposed
00:21that 10% tax on EU goods could jeopardize this growth.
00:25There is a growing demand and people would like to have electric vehicles. And it's always this
00:31chicken-egg challenge at the end of the day. So if there is a demand for electric vehicles,
00:37also infrastructure companies will invest into charging infrastructure.
00:42Joe Biden's 2022 Inflation Reduction Act, which invested $220 billion in clean energy,
00:49led to a 55% surge in U.S.-made electric vehicle sales in one year.
00:54Donald Trump does not support this initiative.
01:24If Kamala Harris wins and supports the Inflation Reduction Act,
01:40supporting American-made green technologies and buying from Europe will become more expensive,
01:45affecting exports. Many investors plan to move to the U.S., like Italian entrepreneur Ellen
01:51Fletcher, whose Modena-based company uses AI to cut energy consumption.
01:57It is true that now with the elections there are some concerns that that might
02:02change in the United States. But I also think that the ball is kind of rolling.
02:07I don't think really that any administration can stop this.
02:11Harris or Trump, very different profiles, but both embrace an America-first approach.
02:17Regardless of elections results, European competitiveness is at stake
02:22in this rapidly changing landscape.
02:24From New York, Michela Monte for Euronews.