Elon Musk speaks out against President Joe Biden on EV

Elon Musk speaks out against President Joe Biden on EV


Elon Musk did not support Joe Biden’s EV tariffs. — AFP

Chief Engineer and CEO of SpaceX spoke out Thursday about President Joe Biden’s latest decision that involved electric cars.

Joe Biden’s government announced last week that it is imposing tariffs on Chinese goods worth $18 billion. The tariffs on electric vehicles surged from 25% to 100%, according to CNBC.

The 52-year-old Musk while answering a question at the VivaTech conference Wednesday: “Neither Tesla nor I asked for these tariffs. In fact, I was surprised when they were announced.”

The rationale behind imposing the tariffs is to protect the domestic industry of the US to sustain the competition of Chinese goods as products of Beijing cost less because of the national subsidies.

Elon Musk speaks out against President Joe Biden on EV
Joe Biden announced tariffs on Chinese EVs. — AFP

It allows Chinese clean energy products to flood the US markets, transcending the demand.

The founder of Neuralink Musk said on Thursday: “Tesla competes quite well in the market in China with no tariffs and no deferential support. I’m in favour of no tariffs.”

Elon Musk’s Tesla has also been struggling because of its declining sales and reduced revenues amid global competition, primarily coming from the second-largest economy.

Elon Musk speaks out against President Joe Biden on EV
Tesla is an electric carmaker which is owned by Elon Musk. — AFP

Musk changed his notion which is starkly different from what he said earlier this year about how Chinese companies will dampen the competition if trade restrictions were not imposed.

He said in January: “Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in the world.”



Source link