California Considers Excluding Tesla from EV Rebates Amid Federal Tax Credit Uncertainty
TL;DR
California Governor Gavin Newsom has proposed an EV rebate program that may exclude Tesla, aiming to support smaller EV manufacturers. This move comes as a response to potential federal rollbacks on green subsidies by President-elect Donald Trump. Elon Musk criticized the proposal, highlighting Tesla's significant presence in California. Despite Tesla's strong sales in the state, its market share has declined, possibly due to Musk's political stances. Tesla's stock fell 4% following the news, though it has risen 40% since Trump's re-election.
- California could leave Tesla out of a proposed EV rebate programme Financial Times
- Gavin Newsom threatens intervention if Trump kills Biden's $7.5K EV tax credit Fox News
- Tesla Stock Drops. It May Get Excluded From California Tax Credits. Barron's
- How Trump Could Upend Electric Car Sales The New York Times
- California's Gavin Newsom says state will provide rebates if Trump removes electric vehicle tax credit NBC News
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