All articles tagged with #ev tax incentives
General Motors will record a $1.6 billion loss in the next quarter due to the end of U.S. EV tax incentives and relaxed emission regulations, including $1.2 billion in impairment charges and $400 million in related costs, though its current EV models remain unaffected.
Wall Street is divided on Tesla's future under a potential second Trump presidency, with some analysts arguing that the rollback of EV tax credits could benefit Tesla by widening its technological lead, while others believe it would hurt the company's affordability and overall EV adoption. Concerns also include potential higher tariffs on Chinese imports, which could impact Tesla's supply chain.
Tesla CEO Elon Musk expressed opposition to government tax incentives for electric vehicles and tariffs on Chinese EVs, advocating for a market free of such interventions. He emphasized that eliminating both EV and oil and gas incentives would be ideal, and noted that Tesla competes well without these measures. Musk's comments follow new tariffs announced by the Biden administration and highlight the competitive threat posed by Chinese automakers.