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Can Elon Musk Be Weaned Off Government Support?
Published on August 07, 2017 at 06:40PM
mi shares an opinion piece written by Jenny Beth Martin via The Hill: A study published in 2015 by The Los Angeles Times revealed that just three of Musk’s ventures — SolarCity Corp. (which manufactured and installed solar energy systems before its 2016 merger with Tesla Motors Inc.), Tesla Motors Inc. (which manufactures electric vehicles), and Space Exploration Technologies Corp., known as SpaceX (which builds rocket ships) — had received $4.9 billion in government subsidies to that point in time. By now, Musk’s various ventures have sucked well over $5 billion from government coffers. Worse: in order to induce car buyers to spend their money on electric vehicles, the federal government offers a $7,500 rebate on the purchase price. Some states enhance that rebate with rebates of their own. In California, for instance, purchasers of electric vehicles get a state-funded rebate of $2,500 more. Slashdot reader mi asks: “Why are you and I subsidizing Elon Musk’s products and when will his businesses be able to compete on their own?”
Read more of this story at Slashdot.
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