Elon Musk is starting to realize, or at least admit, that Trump and the GOP are going to hurt Tesla greatly by removing battery and solar incentives without removing incentives for fossil fuels.

Many people were shocked when Elon Musk decided to back Donald Trump and the Republican Party, considering they have consistently attacked clean energy and electric vehicles, which are Tesla’s main products.

The GOP has been undermining renewable energy for years, and it doesn’t look like Musk’s $300 million donation to Trump and influence on the GOP were able to change that, as the latest budget to pass the GOP controlled-Congress undoes a lot of progress made by the Biden administration on clean energy and electric vehicle adoption.

The budget removes the $7,500 tax credit for electric vehicles, which is a big part of Tesla’s success in the US. It also kills incentives to build batteries in the US – another incentive that greatly benefited Tesla.

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It also removes 30% tax credit on battery storage and solar, which greatly helped Tesla’s energy division.

Yesterday, Tesla issued a statement calling for the Trump government to gradually phase out those incentives rather than removing them altogether:

Abruptly ending the energy tax credits would threaten America’s energy independence and the reliability of our grid – we urge the senate to enact legislation with a sensible wind down of 25D and 48e. This will ensure continued speedy deployment of over 60 GW capacity per year to support AI and domestic manufacturing growth.

Musk shared the statement and then added that while the government that he helped elect is removing incentives for electric vehicles and clean energy, it is not removing those for oil and gas:

The US is incentivizing the oil and gas industry at a rate of hundreds of billions of dollars per year.

Before backing Trump and the Republican Party, Musk had stated that he would be for the removal of EV and clean energy incentives if incentives for fossil fuels were also removed.

Musk has officially exited the Trump administration this week.

Electrek’s Take

It’s interesting to see Musk finally speaking out, albeit weakly, against some of Trump’s policies for the first time. He did note that the budget bill would increase the deficit, and now this.

A quick reminder that Musk said that Trump was the “only one who could save the Western world” and that if he is not elected, the US is basically done.

His stated goals with Trump were to “kill the woke mind virus” and get the deficit and debt under control.

The US has never been more divided, and Trump is pushing a budget that would add about $4 trillion to the US debt over the next few years. His backing of Trump hasn’t achieved anything meaningful toward those goals. Of course, Musk’s real goal in backing Trump was likely to get federal regulators and agencies that were closing in on him and his businesses off his back.

He was successful in doing that, but at what cost?

The EV tax credit is a significant factor in maintaining Tesla’s demand in the US, which is essentially its last primary market where it sells vehicles at a profit.

The removal of the 30% ITC for solar and energy storage would significantly slow down Tesla’s energy storage business, which has been its only growing business for the last two years.

In short, the budget would greatly weaken Tesla’s business in the US, which was its last remaining market that wasn’t doing too badly. Canada is gone. Europe is gone, and Tesla is facing tremendous pressure from competition in China.

The GV90 is set to raise the bar as the most luxurious Genesis SUV. If you thought the GV80 was impressive, wait until you see this larger, three-row electric flagship. After it was recently spotted in the US, we are getting our first glimpse of the ultra-luxe Genesis GV90’s interior.

First look at the Genesis GV90 interior in the US

Genesis previewed the flagship SUV at the NY Auto Show last March with the Neolun concept, which the brand refers to as its “ultra-luxe vision of luxury SUVs.”

It’s not only stunning on the outside, but the full-size SUV will introduce advanced new tech and upscale design features for “a whole new level of luxury.”

Drawing inspiration from Korean aesthetics, the interior is fit for royalty. The concept featured a “Royal Indigo” cashmere and a vintage-like “Purple Silk” leather. Genesis topped it off with dark-colored wood accents for an even more luxurious feel.

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After it was spotted in public in California, it looks like the interior of the Genesis GV90 will retain some elements from the concept.

The new photos, courtesy of The Korean Car Blog, offer a sneak peek at what we can expect when it arrives in production form.

You’ll notice that the color scheme remains largely the same, with purple accents on the door trim, seats, and other interior elements.

The GV90 will serve as the luxury brand’s tech beacon, featuring Hyundai Motor’s latest technology and software. A 24″ infotainment system will sit at the center with navigation and voice command recognition.

It will also feature a 3D audio experience with tweeters, midrange speakers, woofers, and subwoofers strategically placed, creating an immersive audio experience. The iconic Crystal Sphere is not only a centerpiece, but it will also serve as a hi-fi tweeter speaker.

According to Luc Donckerwolke, Genesis’ chief creative officer, the concept is “the epitome of timeless design and sophisticated craftsmanship.” Do you agree?

With GV90 models now in public testing, Genesis appears to be on track to launch the flagship SUV in mid-2026. Earlier this month, we got a closer look at the exterior after it was caught testing at the Nürburgring with less camo.

More details, including prices and final specs, will be revealed closer to launch. However, it is expected to ride on Hyundai’s new eM platform, which will replace its current E-GMP.

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