Former Tesla Exec Says Democratic Party's IRA 'Disproportionately' Served Tesla But Elon Musk Is All For Donald Trump (Corrected)
Portfolio Pulse from Anan Ashraf
Former Tesla executive Rohan Patel stated that the Inflation Reduction Act (IRA) passed by the Democratic Party has significantly benefited Tesla, contrary to claims that the company was sidelined. Tesla's involvement in various incentivized activities under the IRA, such as solar deployment and battery manufacturing, puts it in a favorable position compared to legacy automakers. Despite Tesla CEO Elon Musk's endorsement of Donald Trump, the Democratic Party has continued to support Tesla. Musk believes that the elimination of EV subsidies, as proposed by Trump, would slightly impact Tesla but devastate its competitors.

August 12, 2024 | 9:15 am
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The Inflation Reduction Act (IRA) has significantly benefited Tesla by providing incentives for activities like solar deployment and battery manufacturing, putting it ahead of legacy automakers. Despite CEO Elon Musk's endorsement of Donald Trump, the Democratic Party has continued to support Tesla.
The IRA provides significant incentives for activities that Tesla is heavily involved in, such as solar deployment and battery manufacturing. This puts Tesla in a favorable position compared to legacy automakers. Additionally, despite Musk's political stance, the Democratic Party has continued to support Tesla, which is positive for the company's regulatory environment.
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