California may exclude Tesla from EV rebate program

Published On Nov 26, 2024, 11:42 AM

California Governor Gavin Newsom is proposing a new electric vehicle (EV) rebate program that may exclude Tesla and other automakers if the incoming Trump administration eliminates federal tax credits for EV purchases. The new rebates aim to continue support for zero-emission vehicles while promoting competition in the market. Tesla, which has benefitted significantly from previous rebates (accounting for approximately 42% of California's rebates), may be left out of the new structure, focusing on fostering innovation instead.

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Tesla might face a decline in demand or market sentiment due to the potential exclusion from state rebate programs, which could affect sales in California, a crucial market for the company.

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