October 12, 2016

Is Elon Musk Going To Give Up Billions In EV And Solar Subsidies?


On Monday, Murray Energy CEO Robert Murray blasted Elon Musk for the billions of dollars in green subsidies that Tesla receives. See the Core News video and NTK Network’s partial transcript:

ANDREW ROSS SORKIN: What do you think of Tesla? You’re invested in Tesla. I’m curious just ‘cause you’re an energy expert. You know this business.

ROBERT MURRAY: Tesla is a fraud. He’s gotten $2 billion from the taxpayer. Has not made a penny yet in cash flow. Here again, it’s subsidies.

Musk responded on Twitter, linking to the article and then asking Murray of subsidies: “How about we both go to zero?”

It’s an extraordinary challenge from Musk, whose Tesla Motors benefits from billions in subsidies. Still, it’s not the first time Musk has brushed off government subsidies.

In June 2015, Musk said Tesla and SolarCity – which he chairs – don’t need the “estimated $4.9 billion they enjoy in government support”:

“If I cared about subsidies, I would have entered the oil and gas industry,” said Musk, the chief executive of Tesla Motors and SpaceX and the chairman of SolarCity.

So, will Musk finally put his money where his mouth is and stop accepting government subsidies for Tesla and SolarCity? Keep up with Core News to find out.