Trump's VP Pick JD Vance, Who Elon Musk Hailed As 'Great Choice,' Wanted To Take Away $7,500 EV Credit: Tesla CEO Says 'It Will Only Help' The Company
Portfolio Pulse from Anan Ashraf
Tesla CEO Elon Musk voiced against the $7,500 federal EV tax credit, stating that removing subsidies would benefit Tesla. This comes amid Musk's support for Trump and VP pick JD Vance, who proposed eliminating EV subsidies. Despite Musk's stance, Tesla has benefited from subsidies in the past.
July 16, 2024 | 11:58 am
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Elon Musk's opposition to the $7,500 federal EV tax credit could signal a shift in Tesla's competitive landscape. While Tesla has benefited from subsidies in the past, Musk believes removing them would strengthen Tesla's market position.
Musk's stance against subsidies aligns with his belief that Tesla's competitive position would improve without them. This could positively impact Tesla's stock as investors may view the company as more self-sufficient and competitive.
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