Today, I am talking about Elon Musk correcting a US presidential candidate who misunderstood Tesla's Master Plan Part 3. Yesterday on an Eastern morning Tesla CEO Elon Musk corrected a US presidential candidate who misunderstood Tesla's Master Plan Part 3, saying it's Tesla's competitors that require subsidies, not Tesla. And that if competitors get subsidies, Tesla should get them too. Musk also said Tesla'scompetitive position would improve if all subsidies ended.
So, here's what happened. Tesla announced that they're building a new Megafactory in China capable of producing a lot of energy storage. However, US Presidential Candidate Vivek Ramaswamy didn't seem to like the news. He said that the update was concerning because it would give China an unfair advantage.
But Elon Musk strongly disagreed with Ramaswamy. He explained that Tesla is growing rapidly in the US and there's no reason why they shouldn't receive subsidies if their competitors do. However, he also reiterated that the EV sector is better off without subsidies at all.
It's worth noting that Elon Musk has been against EV subsidies for a while. In fact, he advised against the Biden administration's proposed subsidies of up to $12,500 per electric vehicle under the Build Back Better Act.
So, when Ramaswamy made his comments, he completely misunderstood Tesla's Master Plan Part 3. Several people, including noted investor David Sacks, criticized Ramaswamy and made sarcastic comments.
Sacks joked that he didn't know Chinese President Xi Jinping had taken over Tesla's Gigafactory Texas facility. Musk chimed in and explained that Ramaswamy's take on the matter is "wrong on many levels."
He highlighted that if Tesla's competitors receive subsidies, there's no reason why Tesla shouldn't be included. But at the same time, he thinks that the EV sector would be better off without subsidies altogether.
So, that's what happened. What do you think about Elon Musk's stance on EV subsidies? Do you agree or disagree? Let us know in the comments below. Thanks for watching, and don't forget to like and subscribe for more updates.
It's important to note that Tesla has been the major player in the electric vehicle industry, having made roughly two-thirds of all electric cars made in the United States. Musk's comments suggest that he believes Tesla's success has not been due to subsidies but rather because of their innovation and hard work.
Overall, it's clear that Elon Musk has a strong opinion on the topic of EV subsidies. While he acknowledges that they may be necessary to level the playing field with competitors, he ultimately believes that the industry would be better off without them.
It remains to be seen how policymakers will respond to Musk's comments. We'll be sure to keep you updated on any further developments.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.
