Tesla's Musk Calls Government's Hydrogen Funding 'Idiotic' And 'Bizarre' Amid EV Truck Triumph
Portfolio Pulse from Anan Ashraf
Tesla CEO Elon Musk criticized government funding for hydrogen trucks, calling it 'idiotic' and 'bizarre'. This comes amid discussions surrounding the Hydrogen for Trucks Act, which aims to establish a grant program for heavy-duty fuel cell vehicles powered by hydrogen. Musk has previously expressed skepticism over hydrogen as an efficient fuel source. Meanwhile, Tesla's all-electric heavy-duty semi-truck made its first deliveries to PepsiCo in December last year.
August 07, 2023 | 10:43 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Nikola Corp, which received a $41.9 million grant from the California Transport Commission to build heavy-duty hydrogen refueling stations, could be impacted by Elon Musk's criticism of hydrogen as a fuel source.
Elon Musk's criticism of hydrogen as a fuel source could potentially sway public and governmental opinion, impacting the adoption of hydrogen fuel cell vehicles. This could negatively impact Nikola Corp, which is investing in hydrogen refueling infrastructure.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75
NEUTRAL IMPACT
Tesla's CEO Elon Musk's criticism of government funding for hydrogen trucks could potentially impact Tesla's position in the EV market. Tesla's all-electric semi-truck has already started deliveries.
Elon Musk's criticism of hydrogen as a fuel source could potentially sway public and governmental opinion, impacting the adoption of hydrogen fuel cell vehicles. However, Tesla's all-electric semi-truck has already started deliveries, indicating a strong position in the market.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100