Tesla CEO Elon Musk, whose EV company is deeply involved in Communist China, recently expressed his disapproval of the recently announced 100 percent tariff on Chinese-made electric vehicles during the VivaTech conference this week.
CNBC reports that Elon Musk made it clear that neither he nor his company, Tesla, had requested the tariffs imposed on the Communist Chinese. “In fact, I was surprised when they were announced,” Musk stated in response to a question from CNBC’s Karen Tso during the conference’s Q&A session.
The tariffs on Chinese EV imports are designed to protect the U.S. market from an influx of cheap Chinese EVs. The administration believes that Beijing’s subsidies are enabling companies to overproduce affordable clean energy products, such as solar panels and EVs, which exceed domestic demand.
Elon Musk and his friend Xi Jinping (Elon Musk/X)
Elon Musk’s Halloween costume (Taylor Hill /Getty)
Tesla, a major force in the electric vehicle industry, has faced challenges this year due to an aging fleet, weakened consumer demand, and intensified global competition, particularly in China. The company experienced its most significant revenue slump since 2012 in the first quarter, and its stock price has plummeted by nearly 30 percent in 2024.
Musk, however, remains confident in Tesla’s ability to compete in the Chinese market without tariffs or preferential support. “Tesla competes quite well in the market in China with no tariffs and no deferential support,” he asserted during the conference.
The Tesla CEO further emphasized his stance against tax incentives for EVs, stating, “I’m in favor of no tariffs and no incentives for electric vehicles, or for oil and gas.” This position aligns with Musk’s belief in a level playing field for all competitors in the market.
Musk’s comments on Thursday come on the heels of his earlier suggestion that Chinese EV companies could potentially dominate the global market in the absence of trade restrictions. During Tesla’s earnings call in January, he warned, “Frankly, I think, if there are not trade barriers established, they will pretty much demolish most other companies in the world.”
Read more at CNBC here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
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