Elon Musk has a double standard when it comes to electric vehicles: Subsidies are requested in India, but not in the United States
According to Nitin Gadkari, Union Minister for Road Transport and Highways, any foreign player seeking an EV subsidy must construct their vehicles in India as part of the Make-in-India programme.
Elon Musk, CEO of Tesla Inc, urged the US Congress should reject the Biden administration’s initiative to increase subsidies for electric cars (EVs), claiming it would exacerbate the country’s fiscal imbalance. Interestingly, Elon Musk’s Tesla has postponed its India launch due to a lack of government subsidies. Tesla disclosed its India aspirations on Twitter a few months ago, and he’s been vocal about why the company is still waiting to join the nation despite having built up an office in Bengaluru.
Musk has stated several times that they are in contact with the Indian government in order to obtain subsidies to allow them to enter the country. On the other side, Nitin Gadkari, the Union Minister for Road Transport and Highways, has stated that any foreign company seeking an EV subsidy must construct their vehicles in India as part of the Make-in-India initiative.
In the United States, the billionaire entrepreneur is intensifying his criticism of the administration and Democrats over a proposal to provide a $4,500 tax credit to union-made, American-built electric vehicles. Tesla and other foreign manufacturers have no unions in their U.S. plants. At the WSJ CEO Council Summit, Musk remarked, “Honestly, it might be better if the measure doesn’t pass.”
“I’m simply saying do rid of all subsidies,” he stated, adding, “I think the government should just get out of the way and not obstruct progress.” He also stated his opposition to a Democratic proposal to tax billionaires.
“Taking the task of capital allocation away from people who have shown great talent… and giving it to, you know, an institution that has demonstrated very low skill in capital allocation, which is the government, makes no sense.”
Musk also stated that his brain-chip company, Neuralink, plans to begin human trials next year, pending FDA approval. “With Neuralink, I believe we have a potential of restoring complete body functionality to someone who has had a spinal cord injury.”
