{"id":130241,"date":"2024-11-26T10:31:54","date_gmt":"2024-11-26T03:31:54","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=130241"},"modified":"2024-11-26T10:31:54","modified_gmt":"2024-11-26T03:31:54","slug":"california-proposes-ev-buyer-credit-that-excludes-elon-musks-tesla","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=130241","title":{"rendered":"California Proposes EV Buyer Credit That Excludes Elon Musk&#8217;s Tesla"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n                                  <!-- Excluded mobile ad on desktop --><\/p>\n<ul class=\"summary-list\">\n<li>Gov. Gavin Newsom plans to revive California&#8217;s EV rebate if Trump ends the federal tax credit.<\/li>\n<li>But Tesla, the largest maker of EVs, would be excluded under the proposal.<\/li>\n<li>Elon Musk criticized Tesla&#8217;s potential exclusion from the rebate.<\/li>\n<\/ul>\n<p>California Gov. <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/democrats-trump-blue-state-fight-agenda-courts-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">Gavin Newsom<\/a> is preparing to step in if President-elect Donald Trump fulfills his promise to axe the federal electric-vehicle tax credit \u2014 but one notable EV maker could be left out.<\/p>\n<p>Newsom said Monday if the $7,500 federal tax credit is eliminated he would restart the state&#8217;s zero-emission vehicle rebate program, which was phased out in 2023.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>&#8220;We will intervene if the Trump Administration eliminates the federal tax credit, doubling down on our commitment to clean air and green jobs in California,&#8221; Newsom said in a statement. &#8220;We&#8217;re not turning back on a clean transportation future \u2014 we&#8217;re going to make it more affordable for people to drive vehicles that don&#8217;t pollute.&#8221;<\/p>\n<p>The rebates for EV buyers would come from the state&#8217;s Greenhouse Gas Reduction Fund, which is funded by polluters of greenhouse gases under a cap-and-trade program, according to the governor&#8217;s office.<\/p>\n<p>But Tesla&#8217;s vehicles could be excluded under the proposal&#8217;s market-share limitations, <a target=\"_blank\" class=\"\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-25\/california-pledges-ev-buyer-rebate-if-trump-kills-7-500-credit?srnd=homepage-americas&amp;sref=yaJhKSOh\" data-analytics-product-module=\"body_link\" rel=\"nofollow noopener\">Bloomberg News<\/a> first reported.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>The governor&#8217;s office confirmed to Business Insider that the rebate program could include a market-share cap which could in turn exclude Tesla or other EV makers.<strong> <\/strong>The office did not share details about what market-share limit could be proposed and also noted the proposal would be subject to negotiations in the state legislature.<\/p>\n<p>A market-share cap would exclude companies whose sales account for a certain amount of total electric vehicle sales. For instance, Tesla accounted for nearly 55% off all new electric vehicles registered in California in the first three quarters of 2024, according to a <a target=\"_blank\" class=\"\" href=\"https:\/\/www.cncda.org\/news\/california-new-car-dealers-association-releases-q3-2024-auto-outlook-report\/\" data-analytics-product-module=\"body_link\" rel=\"nofollow noopener\">report<\/a> from the California New Car Dealers Association. By comparison, the companies with the next highest EV market share in California were Hyundai and BMW with 5.6% and 5% respectively.<\/p>\n<p><a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/tesla-falling-california-sales-are-bad-for-elon-musk-2024-10\" data-analytics-product-module=\"body_link\" rel=\"noopener\">Tesla sales in California<\/a>, the US&#8217;s largest EV market, have recently declined even as overall EV sales in the state have grown. Though the company still accounted for a majority of EV sales in California this year as of September, its market share fell year-over-year from 64% to 55%.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>The governor&#8217;s office said the market-share cap would be aimed at promoting competition and innovation in the industry.<\/p>\n<p>Elon Musk, who has expressed support for ending the federal tax credit, said in an <a target=\"_blank\" class=\"\" href=\"https:\/\/x.com\/elonmusk\/status\/1861145047124845054\" data-analytics-product-module=\"body_link\" rel=\"nofollow noopener\">X post<\/a> it was &#8220;insane&#8221; for the California proposal exclude Tesla.<\/p>\n<p>The federal electric vehicle tax credit, which was passed as part of the Biden administration&#8217;s <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/inflation-reduction-act-how-it-reduces-price-growth-deficit-pressures-2022-8\" data-analytics-product-module=\"body_link\" rel=\"noopener\">Inflation Reduction Act<\/a> in 2022, provides a $7,500 tax credit to some EV buyers.<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>Musk, who is working closely with the incoming Trump administration, has expressed support for ending the tax credit. He&#8217;s set to co-lead an advisory commission, the Department of Government Efficiency, which is aimed at slashing federal spending.<\/p>\n<p>The Tesla CEO said on an earnings call in July that ending the federal tax credit might actually benefit the company.<\/p>\n<p>&#8220;I think it would be devastating for our competitors and for Tesla slightly,&#8221; Musk said. &#8220;But long-term probably actually helps Tesla, would be my guess.&#8221;<\/p>\n<p><!-- Excluded mobile ad on desktop --><\/p>\n<p>BI&#8217;s Graham Rapier previously reported that ending the tax credit could help <a target=\"_blank\" class=\"\" href=\"https:\/\/www.businessinsider.com\/why-tesla-elon-musk-supports-trump-ending-ev-tax-credits-2024-11\" data-analytics-product-module=\"body_link\" rel=\"noopener\">Tesla<\/a> maintain its strong standing in the EV market by slowing its competitors growth.<\/p>\n<p>Prior to the EV rebate proposal, Newsom has already positioned himself as a foil to the incoming Trump administration. Following Trump&#8217;s election win the governor called on California lawmakers to convene for a special session to discuss protecting the state from Trump&#8217;s second term.<\/p>\n<p>&#8220;The freedoms we hold dear in California are under attack \u2014 and we won&#8217;t sit idle,&#8221; Newsom said in a statement at the time.<\/p>\n<\/p><\/div>\n<p><script>window.allScripts = window.allScripts || []; window.allScripts.push({ type: \"load\", script: \"%3Cscript%20id%3D%22meta-pixel-script%22%3E(()%3D%3E%7Bvar%20e%3D%7B69531%3A()%3D%3E%7Bvar%20e%2Cr%2Cn%2Ct%2Co%2Ci%3Bfunction%20s()%7Bwindow.Fenrir%3F.cm%3F.usPrivacyApplies%26%26%22ACCEPT%22%3D%3D%3Dwindow.Fenrir%3F.cm%3F.userConsent.OPT_OUT%3Ffbq(%22dataProcessingOptions%22%2C%5B%22LDU%22%5D%2C0%2C0)%3Afbq(%22dataProcessingOptions%22%2C%5B%5D)%2Cfbq(%22init%22%2C%221988166924554892%22)%2Cfbq(%22track%22%2C%22PageView%22)%7De%3Dwindow%2Cr%3Ddocument%2Cn%3D%22script%22%2Ce.fbq%7C%7C(t%3De.fbq%3Dfunction()%7Bt.callMethod%3Ft.callMethod.apply(t%2Carguments)%3At.queue.push(arguments)%7D%2Ce._fbq%7C%7C(e._fbq%3Dt)%2Ct.push%3Dt%2Ct.loaded%3D!0%2Ct.version%3D%222.0%22%2Ct.queue%3D%5B%5D%2C(o%3Dr.createElement(n)).async%3D!0%2Co.src%3D%22https%3A%2F%2Fconnect.facebook.net%2Fen_US%2Ffbevents.js%22%2C(i%3Dr.getElementsByTagName(n)%5B0%5D).parentNode.insertBefore(o%2Ci))%2Cwindow.Fenrir%3F.cm%3F.cmStarted%26%26window.Fenrir%3F.cm%3F.userConsent%3Fs()%3AsetTimeout(s%2C1e3)%7D%7D%2Cr%3D%7B%7D%3Bfunction%20n(t)%7Bvar%20o%3Dr%5Bt%5D%3Bif(void%200!%3D%3Do)return%20o.exports%3Bvar%20i%3Dr%5Bt%5D%3D%7Bexports%3A%7B%7D%7D%3Breturn%20e%5Bt%5D(i%2Ci.exports%2Cn)%2Ci.exports%7Dn.m%3De%2Cn.c%3Dr%2Cn.o%3D(e%2Cr)%3D%3EObject.prototype.hasOwnProperty.call(e%2Cr)%2C(()%3D%3E%7Bn.S%3D%7B%7D%3Bvar%20e%3D%7B%7D%2Cr%3D%7B%7D%3Bn.I%3D(t%2Co)%3D%3E%7Bo%7C%7C(o%3D%5B%5D)%3Bvar%20i%3Dr%5Bt%5D%3Bif(i%7C%7C(i%3Dr%5Bt%5D%3D%7B%7D)%2C!(o.indexOf(i)%3E%3D0))%7Bif(o.push(i)%2Ce%5Bt%5D)return%20e%5Bt%5D%3Bn.o(n.S%2Ct)%7C%7C(n.S%5Bt%5D%3D%7B%7D)%3Bn.S%5Bt%5D%3Bvar%20s%3D%5B%5D%3Breturn%20s.length%3Fe%5Bt%5D%3DPromise.all(s).then((()%3D%3Ee%5Bt%5D%3D1))%3Ae%5Bt%5D%3D1%7D%7D%7D)()%3Bn(69531)%7D)()%3B%3C%2Fscript%3E\" });<\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.businessinsider.com\/california-proposes-ev-buyer-credit-excludes-elon-musk-tesla-2024-11\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gov. Gavin Newsom plans to revive California&#8217;s EV rebate if Trump ends the federal tax credit. But Tesla, the largest maker of EVs, would be excluded under the proposal. Elon &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=130241\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-130241","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130241"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130241\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}