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The Tesla CEO said on an earnings call in July that ending the federal tax credit might benefit the company. "I think it would be devastating for our competitors and for Tesla slightly," Musk said.
California Gov. Gavin Newsom may exclude Tesla and other automakers from an EV rebate program if the incoming Trump administration scraps a federal tax credit for EV purchases.
Newsom said on Monday that if Trump eliminates a federal EV tax credit, he will propose creating a new version of the state’s Clean Vehicle Rebate Program that ended in 2023 and spent $1.49 ...
The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of ...
Currently the standard credit for a qualified alternative fuel vehicle is $4,000. Other than the Civic GX, a number of models produced after 2004 may qualify for tax credits. [13] Electric vehicles: Government tax credit programs are planned for electric and plug-in hybrid vehicles, but no specific models have yet been certified. [14]
The Toyota Prius Plug-in Hybrid, released in January 2012, was eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh. [278] All Tesla cars and Chevrolet Bolts were eligible for the $7,500 tax credit. As granted by the 2009 ARRA, electric vehicles produced after 2010 are eligible for an IRS tax credit from $2,500 to ...
Wedbush analysts, led by stalwart Tesla bull Dan Ives, said Trump cutting the $7,500 consumer tax credit for EVs would not be surprising, and that it would take a bigger toll on traditional car ...
Newsom’s office has not yet confirmed that Tesla would be carved out from the program. California Gov. Gavin Newsom’s possible plan to cut Tesla buyers out of new EV tax credits is driving ...