California Keeps Taxpayer Money Flowing To Tesla
The California legislature is set to pass a bill that would “make up for federal electric-car incentives as they expire,“ replacing the current federal rebates with more state-funded alternatives:
As enthusiast site GreenCarReports.com says frankly of AB 1184, a bill recently passed by the state Assembly and awaiting Senate action: “CA bill would make up for federal electric-car incentives as they expire.”
California’s AB1184 would increase electric vehicle rebates by $3 billion, a massive windfall for electric vehicle manufacturers, especially Tesla:
Over seven years, California has spent $430 million on low-emission vehicle subsidies to help lower the cost for car buyers. Now the state Legislature is looking to extend that by another seven years, but with a price tag of $3 billion.
The legislation is such a win for Tesla, some are calling it a “Tesla bailout”:
If passed, it will head to Governor Jerry Brown, who has not yet indicated if he’d sign what is ostensibly an effort to put EV sales into high gear, but below the surface appears to be a Tesla bailout.