Tesla would likely be excluded from new California EV tax credits, governor's office says

Posted: Nov 26, 2024

  • Tesla (TSLA) might not qualify for California's new state tax credits for electric vehicles
  • Governor Newsom's office proposes a new version of the Clean Vehicle Rebate Program
  • Trump's team is considering eliminating the federal tax credit for EV purchases
  • Tesla shares closed down 4% in response to the news
  • Elon Musk criticized the idea of excluding Tesla from EV subsidies
  • California faces a $2 billion budget deficit next year
  • California aims to have 80% of new vehicles sold in the state be electric by 2035


What do people on Reddit think?

🚨 Reddit sentiment: mixed/negative - The majority of the comments discuss potential negative impacts on Tesla (TSLA) and question the legality of the law. While some suggest competition benefits, the sentiment leans towards negativity due to perceived targeting of a single company and controversy over the policy's intent. Summarized comments: - Users mention potential impact of the law as negatively targeting Tesla (TSLA) specifically - One user suggests the law could foster better competition in the EV market - Discussion on Tesla's factory being possibly the only significant EV production facility in California - Mention of relocation of Tesla from California despite previous support - Comments reflect skepticism about the legal standing of the law and potential for legal challenges - View that the exclusion could spur broader changes in EV tax credits at a national level - Debate over the effectiveness and legality of targeting political dissent through company exclusions Stock tickers discussed: $TSLA, $RIVN



Stay ahead of the market with AI stock alerts & AI summaries of the latest earnings, stock ideas for free with Fluid Bot. Sign up now!