Tesla Excluded From EV Buyer Credits in California Proposal (2)

Tesla Inc.’s electric vehicles would be shut out from consumer rebates under a proposal by California Governor Gavin Newsom, pitting the prospective Democratic presidential hopeful against Republican power player Elon Musk.

Newsom on Monday unveiled plans to offer rebates to EV buyers if US President-elect Donald Trump repeals a federal subsidy. A program California phased out in 2023 could be rebooted in lieu of the $7,500 tax credit, the governor said.

WATCH: The battle between Newsome and Musk.

Source: Bloomberg

His office told Bloomberg News that the current proposal includes market-share limitations that would exclude Tesla’s popular EV models. The details — including ...