Additional Coverage:
California’s EV Buyer Credit Plan Excludes Tesla
California Governor Gavin Newsom plans to revive the state’s EV rebate program if the federal tax credit is eliminated. However, Tesla, the largest EV maker, could be excluded due to market-share limitations.
Tesla’s market share in California has declined recently, but it still dominates the EV market. The proposed market-share cap aims to promote competition and innovation in the industry.
Elon Musk, CEO of Tesla, has criticized the potential exclusion, calling it “insane.” Tesla may benefit from ending the federal tax credit by slowing the growth of competitors.
Newsom has positioned himself as an opponent of the incoming Trump administration. He has called for a special legislative session to protect California from Trump’s policies.