California EV Subsidies Made Tesla What It Is, But Elon Musk Is Ready To Cut Them Off: 'Remove Subsidies From All Industries'
Portfolio Pulse from Natan Ponieman
Tesla CEO Elon Musk and California Governor Gavin Newsom are in a public dispute over subsidies and political alignments. Musk, who has moved Tesla's headquarters to Texas, is advocating for the removal of all industry subsidies, including those for electric vehicles. This could impact Tesla's operations in California, where it has received over $3.2 billion in subsidies since 2009. Analysts are divided on how this shift might affect Tesla's business.
July 18, 2024 | 6:58 pm
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Tesla CEO Elon Musk's call to remove all industry subsidies, including those for electric vehicles, could impact Tesla's operations in California, where it has received over $3.2 billion in subsidies since 2009. Analysts are divided on the potential effects.
The removal of subsidies could lead to increased costs for Tesla, potentially requiring price hikes. However, Musk believes it would strengthen Tesla's competitive advantage. The mixed analyst opinions reflect uncertainty about the short-term impact.
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