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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.
Gov. Gavin Newsom plans to revive California's EV rebate if Trump ends the federal tax credit. But Tesla, the largest electric-vehicle maker, would be excluded under the proposal.
Tesla shares closed down 4% to $338.59 and fell another 1.2% in after hours trading. ... he will propose creating a new version of the state’s Clean Vehicle Rebate Program that ended in 2023 and ...
There’s also a $4,000 credit for used ones. But Trump later softened his stance as Tesla CEO Elon Musk became a supporter and adviser. Newsom's proposed rebates could exclude Tesla and other automakers in an effort to promote more market competition and innovation, according to the governor's office.
The Toyota Prius Plug-in Hybrid, released in January 2012, is eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh. All Tesla Motors cars are eligible for the 7,500 tax credit.
“Tesla makes over 550,000 vehicles in Fremont in my district & employs over 20,000,” said Khanna on X. “Le Democratic Congressman urges Newsom to include Tesla in EV rebate after exclusion ...
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