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Benzinga
Benzinga
Technology
Anan Ashraf

Elon Musk Slams California's Proposal To Shut Tesla EVs Out Of Consumer Rebates In State: 'This Is Insane'

Elon Musk Tesla Inc. California United States Ro Khanna Donald Trump ElonMusk Gavin Newsom Joe Biden

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk on Monday slammed California’s plans to shut the company’s electric vehicles out from consumer rebates under a new proposal, calling it an “insane” decision.

What Happened: According to a Bloomberg report, California Governor Gavin Newsom outlined a new proposal on Monday to offer incentives for EV buyers in California if President-elect Donald Trump gets rid of the current federal $7,500 tax break for EV buyers when he returns to the White House early next year.

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