- Elon Musk called the article 'totally false' and stated that all government incentives his companies received, combined, amounted to less than 2% of the value of SpaceX and Tesla.
- Musk claimed that when President Trump removed the $7,500 tax credit for electric vehicles, Tesla sales actually increased as more buyers shifted from other EV makers to Tesla.
- In 2024, as Trump's incoming administration considered ending EV subsidies, Musk expressed, 'I think we should get rid of all credits.'
- The Trump administration ultimately ended the federal EV tax credit in 2025.
- Tesla received a $465 million Energy Department loan in 2010 to support Model S development and manufacturing.
Elon Musk recently defended Tesla's sales figures, claiming that the removal of the $7,500 electric vehicle tax credit by President Trump did not hinder sales but rather led to an increase. Musk stated,12
"Tesla sales actually INCREASED, because more buyers shifted from other EV makers to Tesla." He criticized the notion that government incentives were crucial for Tesla's success, asserting that they represented less than 2% of the combined value of Tesla and SpaceX.
Musk further noted that these incentives often favored competitors more than his companies, stating,
"And many of these incentives actually helped our competitors disproportionately to Tesla or SpaceX." In 2024, as discussions about ending EV subsidies arose, Musk expressed a desire to eliminate all credits, saying,3
"I think we should get rid of all credits." The Trump administration ultimately ended the federal EV tax credit in 2025, which has sparked ongoing debates about the impact of such policies on the electric vehicle market.4
Tesla also previously received a $465 million Energy Department loan in 2010 to support the development and manufacturing of the Model S, highlighting the complex relationship between government support and the automotive industry.5
“Elon Musk argues that Tesla's sales benefited from the removal of the $7,500 EV credit by President Trump. He claims that government incentives have disproportionately aided competitors rather than Tesla.”
Benzinga