News

Tesla to gain access to 400k more $7k EV tax credits amid Biden’s sustainability push

Credit: everything_tesla_pr0/Instagram

Published

5 years ago

February 11, 2021

Simon Alvarez

Another 400,000 Teslas sold in the United States are poised to receive a tax credit worth $7,000, thanks to a bill from the Biden administration. The bill, called the Growing Renewable Energy and Efficiency Now (GREEN) Act, features a number of programs aimed at incentivizing sustainable technologies.

Under the GREEN Act, the electric vehicle credit cap for automakers would be increased to 600,000 cars, though the tax credit becomes $7,000 per vehicle after the first 200,000 EVs are sold. Considering that Tesla and GM have already passed the 200,000-vehicle threshold, 400,000 more customers in the United States would receive a tax credit of $7,000. This should make Tesla’s electric cars far more attainable, with the Model 3 essentially being priced below $30,000 with the tax credit in place.

Following is the GREEN Act’s section on electric vehicles and the extended US incentive.

“The bill also extends existing tax incentives available for the sale of electric vehicles. The bill increases the electric vehicle credit cap for manufacturers to 600,000 vehicles, but reduces the credit by $500 after the first 200,000 vehicles sold. This would replace the current phaseout period that begins with 200,000 vehicles sold, with a phaseout period that instead begins during the second calendar quarter after the 600,000-vehicle threshold is reached.

“At the start of the new phaseout period created under the bill, the credit is reduced by 50 percent for one calendar quarter and subsequently ends. For manufacturers that already passed the 200,000 threshold before the enactment of the bill, the number of vehicles sold in between 200,000 and those sold on the date of enactment are excluded in determining when the 600,000 threshold is reached.”

The GREEN Act does not only focus on electric vehicles, either. The bill also includes a five-year extension on the solar Investment Tax Credit (ITC), which plays a notable part in the adoption of solar systems in the country. A summary of the bill notes that the ITC would be extended at 30% through the end of 2025, then phase down to 26% in 2026, 22% in 2027 and 10% thereafter. This is something that Tesla could capitalize on as well, considering the company’s energy business.

“The bill also extends the investment tax credit (ITC) for solar energy property at 30 percent through 2025, which phases down to 26 percent in 2026, 22 percent in 2027, and 10 percent thereafter. The bill uses the same phaseout timeline and percentages for geothermal energy property.”

Granted, the GREEN Act still needs to go through a legislative process before it could be fully rolled out. That being said, with the Democrats in control of the Senate, the House, and the White House, the chances of the bill actually being implemented seem to be pretty good.

Don’t hesitate to contact us for news tips. Just send a message to tips@teslarati.com to give us a heads up.

Elon Musk

Tesla schedules Roadster unveiling event, and you won’t believe when it is

Published

3 hours ago

November 6, 2025

Joey Klender

Tesla has tentatively scheduled its unveiling event for the Roadster’s next-generation iteration, and you will not believe the date the company picked for it.

Tesla CEO Elon Musk said during the 2025 Annual Shareholders Meeting that the company is aiming for an April 1 demo event.

Yes, April Fools’ Day.

🚨 Tesla’s unveiling event for the Roadster Gen 2 is scheduled for April 1, 2026.
Yes, April Fools’ Day. pic.twitter.com/sw09GUYFPV
— TESLARATI (@Teslarati) November 6, 2025
Advertisement

Tesla originally aimed for its “most epic demo” to take place at the end of this year. However, the writing on the wall as 2025 winds down seemed to indicate the company was not quite ready to show off everything it plans to implement into the Roadster.

Its capabilities have been teased quite heavily throughout most of the year, but the biggest hints came last week when Musk appeared on the Joe Rogan Experience Podcast.

He said:

“Whether it’s good or bad, it will be unforgettable. My friend Peter Thiel once reflected that the future was supposed to have flying cars, but we don’t have flying cars. I think if Peter wants a flying car, he should be able to buy one…I think it has a shot at being the most memorable product unveil ever. [It will be unveiled] hopefully before the end of the year. You know, we need to make sure that it works. This is some crazy technology in this car. Let’s just put it this way: if you took all the James Bond cars and combined them, it’s crazier than that.”

The Roadster has been somewhat of a letdown, at least in its newest version, thus far. Tesla has routinely delayed the project, putting those who put lofty down payments on the car in a weird limbo, lost at what to do.

One notable pre-orderer cancelled his reservation last week and got in a spat with Musk about it.

Now that there is a definitive date for the Roadster unveiling, Musk and Co. should have a more definitive cutoff date for features and capabilities. Chief Designer Franz von Holzhausen said earlier this year that when they showed Musk what they had done with the Roadster, the CEO encouraged them to do even more with it.

This delayed things further.

Musk also said he believes production would begin between 12 and 18 months after the unveiling, putting it out sometime in 2027.

Elon Musk

Tesla (TSLA) shareholders officially approve Elon Musk’s 2025 performance award

To earn his landmark pay package, Musk would be required to lift Tesla’s market capitalization from about $1.1 trillion today to $8.5 trillion over the next decade.

Published

5 hours ago

November 6, 2025

Simon Alvarez

Justin Pacheco, Public domain, via Wikimedia Commons

Tesla (NASDAQ:TSLA) CEO Elon Musk has officially approved his 2025 Performance Award, a landmark pay package that could make him the world’s first trillionaire and make Tesla the most valuable company in the world by a mile.

The 2025 CEO Performance Award was officially approved by Tesla shareholders at the 2025 Annual Shareholder Meeting.

Elon Musk‘s landmark pay package

As per Tesla, more than 75% of the shareholders approved Elon Musk’s 2025 CEO Performance Award. It was then unsurprising that the approval of Elon Musk’s pay plan received overwhelming applause from the event’s attendees.

The CEO took to the stage with much enthusiasm, welcoming every shareholder to the event and dancing briefly on stage. Optimus also danced on stage smoothly, demonstrating its improved movements to much appause.

Tesla Annual meeting starting now
https://t.co/j1KHf3k6ch— Elon Musk (@elonmusk) November 6, 2025

Optimus can dance 🕺 pic.twitter.com/i6PYIUxsSn— DogeDesigner (@cb_doge) November 6, 2025

Elon Musk’s 10-year targets

To earn his 2025 CEO Performance Award, Musk would be required to grow Tesla’s market capitalization from about $1.1 trillion today to $8.5 trillion over the next decade. At that level, Tesla would surpass every major public company in existence. The compensation plan also requires Tesla’s operating profit to grow from $17 billion last year to $400 billion annually.

Apart from leading Tesla to become the world’s biggest company in history, Musk is also required to hit several product targets for the electric vehicle maker. These include the delivery of 20 million Tesla vehicles cumulatively, 10 million active FSD subscriptions, 1 million Tesla bots delivered, and 1 million Robotaxis in operation.

Elon Musk

Tesla 2025 Annual Shareholder Meeting: How to watch

Published

7 hours ago

November 6, 2025

Joey Klender

Credit: @YunTaTsai1 | X

The 2025 Tesla Annual Shareholder Meeting from Gigafactory Texas is set to kick off at 4 p.m. EDT, 3 p.m. CDT.

The company will be having its typical presentation for the event, where CEO Elon Musk, along with other executives will discuss things like future products, the outlook of its self-driving development, potential releases for next year, and some current events within the company.

However, this year’s Shareholder Meeting has slightly more implications than others, as Investors and Shareholders have spent the last several months petitioning and supporting one of the proposals on the docket that could be the deciding factor in Musk staying or leaving Tesla.

Elon Musk’s new pay plan ties trillionaire status to Tesla’s $8.5 trillion valuation

Proposal four outlines a new compensation package for Musk that could give him $1 trillion in shares if he is able to complete a variety of lofty goals related to production, self-driving, and other important company projects.

Musk has said that he is truly after more influence on company decisions, especially as the Tesla Optimus program is ramping up and becoming a more relevant part of the company’s story.

The CEO said during the Q3 Earnings Call that he would not feel comfortable developing an “army of robots” if he did not have a comfortable amount of influence in some of the decisions. He could be voted our or out-influenced by what he calls “activist shareholders.”

One of those investors came after his past pay package, which was approved by shareholders not once, but twice. Musk still was not able to obtain the pay because of a Delaware Chancery Court ruling.

Nevertheless, this is one of the last ditch efforts Tesla is making to get Musk the compensation that he wants.

The meeting is set to kick off at 3 p.m. local time in Austin. You can watch it via the livestream on X: