The Biden administration plans to roll out $100 billion in new federal electric vehicle (EV) consumer rebates to consumers as part of a new over $2 trillion infrastructure plan.
Tesla & General Motors: These two U.S. automakers were the only two companies that maxed their quota under the last EV tax plan. When the companies built 200,000 cars, the rebates would no longer be available to new buyers. This bill pledges to change the quota, but to what extent is uncertain. Regardless, $TSLA and $GM are already arguably the two most popular EV producers. They stand to benefit the most. Chargepoint: $CHPT is one of the oldest EV companies and has already jumped over 38% on the news around the infrastructure plan. The company boasts over 114,700 charging locations globally. Volkswagen: $VWAGY plans to begin mass-producing electric vehicles next year. Whilst they’re not as technically competitive as $TSLA, they are still the biggest automaker in the world. The company owns Audi, Bugatti, Bentley, and others. They’re also owned by Porsche, which trades at a slight discount as $POAHY. BMW: $BWMYY is another European automaker throwing their energy behind EVs. The company boasts an EV version of their MINI, a compact sedan called the BMW i3, and an electric SUV called the X3.
Tesla’s mission is to accelerate the world’s transition to sustainable energy. Since its founding in 2003, Tesla has broken new barriers in developing high-performance automobiles that are not only the world’s best and highest-selling pure electric vehicles—with long range and absolutely no tailpipe emissions—but also the safest, highest-rated cars on the road in the world. Beyond the flagship Model S sedan and the falcon-winged door Model X sports utility vehicle, Tesla also offers a smaller, simpler and more affordable mid-sized sedan, Model 3, which it is expected will truly propel electric vehicles into the mainstream. In addition, with the opening of the Gigafactory and the acquisition of SolarCity, Tesla now offers a full suite of energy products that incorporates solar, storage, and grid services. As the world’s only fully integrated sustainable energy company, Tesla is at the vanguard of the world’s inevitable shift towards a sustainable energy platform.