California plan excludes Tesla from new EV tax credits, governor's office says
Posted: Nov 25, 2024
- Tesla's electric vehicles may not qualify for California's state tax credits if Trump eliminates federal tax credits
- Tesla shares closed down 4%
- Trump's transition team is considering eliminating the federal tax credit for EV purchases
- Tesla CEO Elon Musk criticized the idea of barring the automaker from EV subsidies
- Musk supports ending subsidies for EVs, oil, and gas
- Governor Newsom may propose a new version of the state's Clean Vehicle Rebate Program if federal EV tax credit is eliminated
- Musk and Newsom have clashed over various state policies
- Tesla moved its headquarters from California to Texas in 2021
- California expects the EPA to approve a plan to halt the sale of gasoline-only vehicles by 2035
- California's rules require 80% of new vehicles sold to be electric by 2035
- California is planning to exclude Tesla (TSLA) from new EV tax credits if the federal tax credit for EV purchases is scrapped
- Tesla shares closed down 4% in response to this news
- Tesla CEO Elon Musk criticized the idea of barring the automaker from EV subsidies
- Governor Gavin Newsom's office is proposing a new version of the state's Clean Vehicle Rebate Program
- California provided up to $7,500 for the purchase or lease of new plug-in hybrid, battery, or fuel cell EVs
- Musk and Newsom have clashed over state policies, including shutting Tesla's factory during the pandemic
- California has crossed 2 million sales of zero-emission vehicles, doubling sales since 2022
- California plans to halt the sale of gasoline-only vehicles by 2035, with 80% of new vehicles sold being electric by then
What do people on Reddit think?
🚨 Reddit sentiment: negative - Most comments express frustration and skepticism towards the exclusion of Tesla from the EV tax credits, viewing it as a politically motivated decision rather than a fair policy. Summarized comments: - The exclusion of Tesla from EV tax credits is not clearly explained in the article, leading to accusations of clickbait. - Some believe the exclusion is based on Tesla's sales volume, which is higher than the threshold set for the tax credit. - This decision is seen by some as a political move rather than a genuine effort to increase EV adoption. - The government is accused of choosing favorites and being biased against Tesla despite its major role in the EV industry. - The situation is compared to past thresholds for EV tax credits where Tesla and GM were affected based on sales volume. - The move is criticized as being part of a personal vendetta against Elon Musk by California's governor. - There is speculation about potential legal action against this decision. Stock tickers discussed: $TSLA
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