Published 22:37 IST, May 23rd 2024

Don't need tax benefits, says Elon Musk; opposes US' EV taxation incentives

Musk says his opposition to EV incentives was the same as his belief that oil and gas sector needs no benefits.

Reported by: Business Desk
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Need no tax incentives, says Musk | Image: Twitter

Don't dole out EV incentives: Tesla founder and billionaire Elon Musk on Thursday while addressing tech investors during a gathering in Paris categorically said that he was against any tax incentives or tariffs that favour electric cars. In the same breath, Musk also added that his opposition to EV incentives was similar to his belief that there should be no benefits for oil and gas sector.

"Neither Tesla nor I asked for these tariffs, in fact I was surprised when they were announced", Musk said, referring to such policies recently announced by the United States. 


Earlier, the latest impact report, a company outlook revealed by American electric vehicle maker Tesla has skipped the mention of its previously stated target of delivering 20 million vehicles per year by 2030. The omission of the electric vehicle target is being seen as another sign that the billionaire Elon Musk-led firm was scaling back its ambitions as an automaker amid a pivot to robotaxis.

Tesla CEO Elon Musk had last month said that Tesla would use current product lines for new affordable vehicles, as it was withdrawing from more ambitious plans to produce an all-new model that had been expected to cost $25,000. Musk had said that in 2020 Tesla aspired to sell 20 million vehicles by the end of the decade. This sales target was a two-fold increases in the sales of the world's largest automaker Toyota. 


(With Reuters inputs) 



22:10 IST, May 23rd 2024