1 week Ago By Niall Kitson
13 December 2024 Tesla, owned by Elon Musk, called for higher financial burdens on gasoline car drivers in the United Kingdom following Labour’s election victory. While Musk is openly engaging in British politics via social media, voicing opinions and criticism, his company is simultaneously pursuing a policy change that could benefit their bottom line. Tesla urged the new government to extend the mandate to promote electric vehicle sales to trucks.
They proposed funding these EV subsidies by imposing higher taxes on buyers of gasoline and diesel cars, reports BBC. In a letter addressed to Roads Minister Lilian Greenwood in July, Joe Ward, the European head of Tesla, stated that “the government should ask those who still choose to buy a new polluting vehicle to pay more.” This correspondence, obtained through a Freedom of Information request by The Fast Charge, shows that Tesla appreciates the Labour Party’s position on decarbonisation and net zero targets.
This praise, however, preceded Musk’s public criticism of the British government during the summer riots. Then Musk was reportedly excluded from the government’s investment summit because of his politically charged online activities. Since then, he has become a prominent figure in Donald Trump’s administration.
Tesla’s rise in value after the US election contributed significantly to Musk’s wealth. The British government is currently reviewing changes to the Zero Emission Vehicle (ZEV) mandate, a policy designed to boost electric car sales. This mandate requires manufacturers to sell a certain number of EVs per year, with penalties for non-compliance such as buying credits from those who exceed their targets.
In contrast to the current lobbying by British car manufacturers seeking to water down the ZEV mandate, Tesla advocated for its retention and strengthening. Tesla could benefit significantly from this policy because it could sell excess credits derived from imports of its Chinese-made EVs. In addition, Tesla urged the government to prioritise the development of autonomous vehicles and offered a demonstration to showcase their vision in this area.
Business AM Read More: Elon Musk Green sustainability Tesla.
