Tesla’s Musk says Biden’s electric vehicle bill shouldn’t go through


Tesla Inc CEO Elon Musk walks next to a screen showing an image of the Tesla Model 3 car during an opening ceremony for the China-made Tesla Model Y program in Shanghai, China, Jan.7 2020. REUTERS / Aly Song / File Photo

Register now for FREE and unlimited access to reuters.com

Register

SAN FRANCISCO, Dec.6 (Reuters) – Tesla Inc (TSLA.O) CEO Elon Musk said on Monday that the U.S. Congress should not approve the Biden administration’s bill to increase subsidies for electric vehicles (EVs), saying the proposal would make the country’s situation worse. budget deficit.

The billionaire entrepreneur is stepping up criticism of the administration and Democrats for a proposal to give electric vehicles made by unions and in the United States an additional tax incentive of $ 4,500. Tesla and foreign automakers do not have unions in their US factories.

“Honestly, it might be better if the bill didn’t pass,” Musk said at the WSJ CEO Council summit.

Register now for FREE and unlimited access to reuters.com

Register

“I am literally saying get rid of all the subsidies,” he said, adding that the government should, in my opinion, just try to step aside and not hinder progress.

He also reiterated his opposition to a Democrats’ proposal to tax billionaires. “It does not make sense to take the work of allocating capital away from people who have shown great skill (…)

Musk also said his brainchip startup Neuralink hopes to begin human trials next year pending approval from the U.S. Food and Drug Administration. “I think we have a chance with Neuralink to be able to restore full body functionality to someone with a spinal cord injury.”

Register now for FREE and unlimited access to reuters.com

Register

Reporting by Hyunjoo Jin; Editing by Sandra Maler

Our Standards: Thomson Reuters Trust Principles.

About Robert Pierson

Check Also

Report, Auto News, ET Auto

San Francisco: Tesla, the electric vehicle company owned by Elon Musk, is reportedly investigating executive …