Tesla CEO Elon Musk has reiterated his name to finish all subsidies for all industries, together with the electrical car section. Musk shared his insights in regards to the matter in a publish on social media platform X.
Following US presidential candidate Donald Trump’s shut name with an assassination try this previous weekend, Elon Musk famous on X that he could be voting for the previous president. Trump has confirmed that his operating mate could be Senator JD Vance (R-OH), who acknowledged final 12 months that the $7,500 federal tax credit score for EVs needs to be eliminated and given to American-made combustion-powered automobiles as a substitute.
Vance’s feedback from the earlier 12 months have been taken by Musk critics as a sign that the CEO is taking pictures himself within the foot as soon as extra. A number of of Tesla’s electrical autos just like the reengineered Mannequin 3 Efficiency and the Mannequin Y Rear Wheel Drive (RWD), in any case, at present profit from the US federal tax credit score. These tax credit make Teslas extra attainable even to budget-conscious shoppers.
Take away the subsidies. It can solely assist Tesla.
Additionally, take away subsidies from all industries!
— Elon Musk (@elonmusk) July 16, 2024
It was then unsurprising that Musk’s assist for the Trump-Vance ticket caught a wave of criticism on social media. Musk responded to those sentiments, stating that Tesla would truly profit if all subsidies are halted. Musk famous, nonetheless, that he’s particularly calling for all subsidies in all industries to be halted. He isn’t supporting Vance’s suggestion that EV subsidies needs to be stopped and given to US-made combustion-powered automobiles as a substitute.
“Take away the subsidies. It can solely assist Tesla. Additionally, take away subsidies from all industries!” Musk wrote on X.
“We don’t want the $7,500 tax credit score. (…)
I’m actually saying do away with all subsidies.
But additionally for oil and fuel.” – Elon Musk in Dec. 2021 pic.twitter.com/EaNAOIWE2z— Maren Kahnert 🦊⚔❤ (@marenkahnert) July 16, 2024
It might be shocking, however this isn’t the primary time that Musk has known as for the halt of all subsidies in all industries, together with the electrical car section. Again in December 2021, throughout an interview at The Wall Avenue Journal‘s CEO Council Summit, Musk acknowledged that Tesla doesn’t want EV subsidies. He additionally famous then that he’s in favor of eliminating all subsidies, from the EV sector to the oil and fuel trade.
“It’s value noting that for the car buy tax credit score — the $7,500 — Tesla stopped getting that like two years in the past, whereas everybody else, I feel, aside from GM, nonetheless will get the $7,500 tax credit score. So all of our gross sales this 12 months, and final 12 months, had nothing to do with the tax credit score as a result of we’re not eligible as a result of we’ve made so many electrical automobiles… I’m actually saying do away with all subsidies. But additionally for oil and fuel,” Musk stated.
Watch Elon Musk’s 2021 feedback about EV subsidies within the video beneath.
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