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techkenyot.com July 18, 2018


Tesla loses United States subsidies as it hits 200,000 sales mark

14 July 2018, 03:53 | Casey Mitchell

Tesla's US Tax Credit Set To Come To An End | OilPrice.com

There are numerous reasons to dislike Elon Musk. This isn’t one of them

Tesla is the first auto manufacturer to hit the threshold in the USA, and the end of subsidies could slow sales as the company ramps up production of.

"I feel like I have a great debt to the people of Tesla", Musk told Bloomberg.

The $7,500 federal tax credit for electric vehicles is set to start phasing out for the Model S, Model X and Model 3 after Dec.31, according to the company's website.

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It discourages companies from trying to save money by cherry-picking the healthiest people and kicking others to the curb. The funding will be delivered to eligible organizations that can help individuals enroll in ACA health plans.

Tesla increased second-quarter deliveries to Canada and had a significant number of vehicles in transit at the end of June, which may have reflected an effort to delay reaching the 200,000 level to "game the tax credit", Loup Ventures analyst Gene Munster speculated on July 2. Musk and his team made a big bet that automation would help Telsa make more cars in a single month than it ever had before, only to have robots repeatedly fail, forcing the company to halt the entire production process to fix the problem. The milestone has been viewed as integral to CEO Elon Musk's Silicon Valley auto concern as it fights against new competition and makes a major stride into the mass market with its new sedan.

"It's like you just took all the highways away from L.A. or something", Musk told Bloomberg, adding that Tesla's workers had to scramble to manually assemble vehicle components.

"It sounds good on PowerPoint, and it was bad in reality", he said.

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This recent filing stands as yet another sign that Tesla is well on its way to sustaining its production rate of 5,000 Model 3 per week this third quarter.

However, under changes to subsidies for electric cars introduced past year, the support is gradually phased out after a company has sold 200,000 vehicles.

For the first time since it started taking reservations for its new "affordable" Model 3, Tesla has opened up the car's configurator to the public.

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Tesla CEO Elon Musk said he slept on the floor of the company's vehicle-assembly plant in Fremont, California, because he wanted to suffer more than any other employee during the troubled production ramp-up for the Model 3 sedan, Bloomberg reported Thursday.



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