Elon Musk, the CEO of Tesla and a major shareholder in Communist China, just expressed his disapproval of the recently announced 100 percent tax on Chinese-made electric vehicles at this week’s VivaTech meeting.
Elon Musk, according to CNBC, made it abundantly clear that neither he nor Tesla, the company that makes up Tesla, had requested the taxes imposed on the Communist Chinese. ” In truth, I was surprised when they were announced”, Musk stated in response to a problem from CNBC’s Karen Tso during the league’s Q&, A program.
The tariffs on Chinese EV goods are intended to shield the U.S. business from an flow of cheap Chinese Vehicles. The government thinks Beijing’s incentives are allowing businesses to overproduce cheap, clean energy products like solar panels and EVs that outweigh private demand.
Elon Musk’s Halloween costume ( Taylor Hill /Getty )
Tesla, a big push in the electric vehicle industry, has faced challenges this time due to an aging ships, weakened buyer demand, and intensified global rivals, especially in China. The business experienced its most important income decline since 2012’s first quarter, and its stock price dropped by almost 30 % in 2024.
Musk, but, remains convinced in Tesla’s ability to compete in the Chinese business without taxes or preferred help. He claimed during the meeting that Tesla does not have any polite support or tariffs and does well in the Chinese market.
The Tesla CEO added that he opposes tax breaks for electric vehicles and said,” I’m in favor of no taxes and no incentives for electric cars, or for oil and gas.” This place is in line with Musk’s belief that all market competitors should have equal playing conditions.
In response to his earlier suggestion that Chinese EV companies may possibly dominate the global market in the presence of trade restrictions, Musk’s feedback on Thursday follow. During Tesla’s income visit in January, he warned,” Honestly, I think, if there are no trade barriers established, they will very much dismantle most other companies in the world”.
Learn more at CNBC below.
Lucas Nolan is a writer for Breitbart News, covering problems involving net censorship and free speech.
