Tesla supports killing $7,500 EV tax credit – going directly against its mission
Tesla reportedly supports the Trump administration’s plan to kill the $7,500 federal tax credit for electric vehicles – something in direct contradiction to Tesla’s original mission to accelerate the entire industry’s transition to electric transport.
Elon Musk, who has both financed and “fully endorsed” Donald Trump, has walked back much of his prior messaging around the need to accelerate the transport and energy sector’s transition to sustainability to address climate change.
In fact, during Trump’s prior administration, Musk was part of his “business council”, but he resigned after Trump pulled the US out of the Paris climate agreement.
Musk has now made it clear that he believes the “woke mind virus” is a bigger threat to humanity than climate change.
The CEO even supported Trump when he said he plans to remove the $7,500 tax credit for electric vehicles once he is back in power. That’s despite Tesla having lobbied for the credit. The incentive has been supporting Tesla’s sales in the US over the last few years.
Musk even laid out a scenario where removing the tax credit would hurt Tesla, but he believes it would hurt other automakers more – removing some of the competition. That’s a direct contradiction to what Musk has said many times in the past, which is to encourage the entire auto industry to go electric.
Even more recently, the CEO has complained that the main problem with EV adoption is the cost being to high – something that the tax credit is directly addressing in the US.
Tesla now supports removing the tax credit
These days, it’s hard to separate Musk and Tesla. Even though he is technically only CEO and minority shareholder, it is widely believed that he controls the board, and, therefore, he is able to do anything unchecked at Tesla.
This is actually what led to the judge’s decision in his CEO compensation case earlier this year.
Now, Musk’s position on the tax credit that Tesla lobbied hard for is also Tesla’s position.
According to a new Reuters report, Trump’s transition team is reportedly already strategizing about how to remove the EV tax credit:
President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.
The report states the energy transition team is led by Harold Hamm, an oil billionaire, but that they have consulted with Tesla, which is reportedly backing the move:
Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla – by far the nation’s largest EV seller – have told a Trump-transition committee they support ending the subsidy, said the two sources, who spoke on condition of anonymity.
The Trump administration would have to get Congress’s approval to remove the EV incentive.
Electrek’s Take
Like I wrote in my post about selling my Tesla position, the main reason I can’t be involved with Tesla anymore is that it is moving away from its mission.
There’s no better example than this.
Elon is willing to slow down the entire US EV industry as long as Tesla can come out on top in the next few years.
A source familiar with Tesla’s policy team suggested that it could be a negotiating strategy. Tesla may know it can’t save the tax credit so it is agreeing with Trump in order to have a bit more credibility on other matters, like the battery production credits that Tesla has been enjoying under Biden’s IRA.
But that could be a stretch, and in my opinion, it is not worth supporting something that will undoubtedly result in lower EV sales in the US, a country already way behind the rest of the world in EV adoption.
Also, it’s fair to note that this move should help Tesla in Q4 as the threat of removing the tax credit is resulted in surges in sales in the past to take advantage of it before it goes away.
It comes as Tesla is trying to achieve record sales in Q4 in order not to be down in deliveries for the entire year.
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Velotric has continued to regularly update its popular e-bike models, with the latest launch today bringing us the Nomad 2. This fat tire adventure bike carries a host of new features and components, offering a powerful yet comfortable ride on both city streets and off-road trails.
The Velotric Nomad 2 sports a 750W nominally-rated motor with a true 90 Nm of torque. In other words, it’s designed to eat hills for breakfast and lay down some real power when riders need it most. And with both throttle-activated control and 15 levels of responsive pedal assist, that power can be dialed in to the right level for each rider’s own taste. And with a maximum speed of 28 mph, the bike is fast enough to keep up with traffic… when riders aren’t enjoying a relaxing trail ride.
Speaking of pedal assist, Velotric offers what they call SensorSwap, a feature in the pedal assist system that uses both a cadence sensor and a torque sensor and allows riders to select which sensor is being used at any time. The former allows riders to pedal easily while still getting impressive power output from the motor, while the latter offers more intuitive riding that provides a more natural feeling akin to pedaling a bike with extra powerful legs.
Torque sensors are often considered superior for their more refined experience, but cadense sensors are still praised by riders who don’t want to put in the extra effort required by torque sensors. With a torque sensor, the rider’s pedaling effort is multiplied, but a cadense sensor lets riders feel like they’re pedaling without needing to actually provide as much of their own ‘oomph’.
The Nomad 2’s design includes off-road features such as 26×4.0″ tires, a 100mm travel hydraulic suspension fork, and an included parallel linkage suspension seat post.
Combined with the powerful motor that offers 1,000 lb of towing capacity (plus 505 lb of payload), the 75 lb e-bike is built to handle just about anything, and that includes nearly any trail.
“Sometimes the road less traveled is the better one,” says Adam Zhang, the CEO of Velotric. “Nomad 2 speaks to those who love the journey, and the occasional detour! Whether you’re climbing trails, hauling heavy loads, or simply cruising, our latest bike gives you the freedom to ride further, faster, and more comfortably than ever before.”
And since off-road adventures often don’t have clear-cut end times, the bike offers 65 miles of maximum range thanks to the 48V and 14.7 Ah battery with 705 Wh of capacity. That battery is UL-listed and IPX7 waterproof, meaning you can dunk it in water. I’ve done exactly that with Velotric batteries before and they’ve survived for many more rides.
Rounding out the feature list includes a 3.5″ color display, Bluetooth connectivity, USB-C phone charger, 500 lumen headlight, tail light with turn signals, included rear rack with fenders, hydraulic disc brakes, an 8-speed Shimano transmission, and more.
The Velotric Nomad 2 is priced at $1,999 and went on sale today.
Riders can snag it in two sizes with four color options, and with a choice between a high-step and a step-through frame style.
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A Tesla store in New York City has been taken over by people protesting Elon Musk – disrupting the operations.
As we have reported over the last few weeks, there’s a growing movement called “Tesla Takedown,” under which grassroots protests are being organized at Tesla stores around the world.
There have been many more protests this weekend. Some of them had truly impressive turnouts.
For example, hundreds of people showed up to protest at Tesla’s Tuscon location (via Andy Flach):
These protests have been peaceful and legal, but there have been a few exceptions.
At Tesla’s Manhattan store in New York City today, some protestors managed to get inside the store and it started to cause problems.
Here’s a video (via Oliya Scootercaster ):
About 300 people showed up to the protests. Most of them stayed protesting peacefully outside, but a handful of people got in and Tesla employees had to close the stores as more tried to get in.
The police confirmed having arrested 9 people, but the charges are not clear as of now.
In videos of the aftermath, it looks like a few glass doors and windows were broken.
Similar protests have been reported in most major cities in the US and they are planned for the next few weeks.
Electrek’s Take
This is getting bigger and still gaining momentum. I’m honestly surprised by the response. I thought it would last weekend with a few dozen people at a few stores and that’s it.
But it looks like now thousands of people are getting active and it’s becoming a real problem for Tesla.
Enough to get the board to act and remove Elon Musk? I doubt it. Elon has done plenty of fireable offenses and they haven’t even blinked – because they are all in Elon’s pockets.
I think the stock price is the only thing that can really get things moving.
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Electrifying your commercial fleet is a tricky thing. Sure, you want to cut your fuel costs. You want to reduce your operating variables. Heck you you even want to help corporate meet their ESG goals – but where do you start? MAN Trucks is here to help fleet managers get answers.
As more and more heavy trucking fleets begin to deploy electric assets, they’re proving that operators’ range anxiety may be a myth on most routes. That’s true enough here in North America, and truer still in Europe where distances between cities are condensed and trucks like the Mercedes eActros and Renault E-Tech T semi roam.
MAN Trucks are also a popular choice in Europe, and their leadership – unlike most in the industry – have been especially vocal in their criticism of hydrogen, and have fully embraced battery-electric vehicles. As such, it’s no wonder that the company took to LinkedIn to announce its MAN electric commercial vehicles consultation team.
“It’s Full Power here with the MAN electric commercial vehicles consultation team,” writes Roger Turnbull, Head of EV Truck Consultation at MAN Truck. “After another busy week of meetings presenting to haulage and transport organizations of all sizes across the UK – you can feel the EV interest and enthusiasm growing.”
MAN Trucks’ consultation team helps commercial fleet operators in Europe and the UK fully understand the needs of their fleet, analyzes their fuel and maintenance costs, and helps them get a better understanding of what fleet assets are prime candidates for electrification, and what sort of charging solutions might work best for their operations – and that doesn’t always mean on-site charging.
With the capacity for onsite charging now becoming a reality for many plus proof that operators range anxiety maybe a myth on most routes, our industry is already stepping up a gear to find out more.
ROGER TURNBULL, MAN TRUCKS
Off-site charging solutions like those offered by Voltera and Zeem here in the US seem to be somewhat less common in Europe, but the electric trucking infrastructure as-a-whole seems to be a step or two ahead. That, combined with generally higher fuel costs compared to the US, make it a bit easier for fleets to electrify. And MAN will help them see that.
The best part? MAN’s consultation is free, and requires no obligation to buy. “Your MAN EV Consultation Team in the UK offer free information, advice and support,” offers Turnbull. “[Everything] from the basics to multi-vehicle using multiple site locations. Factually checked and honest.”
You can’t do much better than free, right?
Electrek’s Take
Fleet assessments and fleet asset audits are crucial steps on the path to successful fleet electrification. These comprehensive evaluations provide fleet operators with valuable insights into their current fleet operations, energy consumption patterns, and infrastructure needs. By carefully analyzing this data, fleet managers can make informed decisions about which vehicles to prioritize for electrification while minimizing the potential for “surprises” once the trucks are delivered and the funds are tied up.
If you’re a fleet manager reading this, you should get a fleet energy analysis set up soon – whether you’re planning to electrify or not.
SOURCE | PHOTOS: MAN Trucks.
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