Connect with us

Cleantech

Just How Much Does Tesla Get In Subsidies Anyways?

Avatar

Published

on

August 3rd, 2020 by Johnna Crider 


A common theme Tesla critics have focused on off and on for years regarding Tesla is subsidies, and it’s a popular topic again. The idea from critics is that Tesla is getting billions of dollars of subsidies and that’s why it’s a viable company. Let’s hone in on that thought and see how accurate it really is.

Before getting into that, though, let’s briefly recap exactly what Elon Musk said recently about a US government stimulus package for Americans, since this is what triggered another round of hyperventilation around “Tesla subsidies.”

Many have focused only on the first tweet, and criticisms of it have lacked the important context of the followup tweets and thus been misleading. In his thread, Elon shared his thoughts as to why a bailout wouldn’t benefit the American people. Simply put, giving free money to large corporations in a complicated stimulus package, such as the Republican plan, wouldn’t help you or me much — nor those millions who are facing eviction — while again funneling a ton of money to the richest Americans..

Bernie Sanders and Robert Reich, two of the most notable critics of Elon’s first tweet, actually have the same critique that Elon has. So, the whole controversy is based around miscommunication rather than different opinions on policy. However, they have also tagged on attacks on Tesla for having received government subsidies — subsidies and regulatory credits (which are not subsidies) that, again, Sanders and Reich surely supported.

Twitter user “JPR007” (“007”) dove deep into these waters and I am diving in with him. Let’s see just how Tesla and Elon Musk benefitted from these billions of dollars worth of subsidies and who else also gets them (besides the oil companies).

Subsidies: Tesla vs. The Other Guys

In his thread, 007 included screenshots from the subsidy tracking website goodjobsfirst.org. Here are 007’s key points:

Tesla

Tesla received $0.4 billion of federal loans and bailout support via the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. However, that amount was repaid in full with interest, almost a decade early. The federal loan Tesla received was for $465.5 million and was granted in 2010 — the first recovery year after the 2009 financial crisis. As CleanTechnica reported in May 2013, that was paid back 9 years earlier than it had to be.

While Tesla did receive a lot of aid from taxpayers, Tesla paid us back.

Tesla’s total subsidy value according to the data is $2,441,582,590 ($2.44 billion), across 109 “awards” — 82 federal grants and tax credits as well as 27 state and local awards.

The idea of a subsidy isn’t really a bad thing — its the government’s way of investing in a company. That’s how I see it, and honestly, it’s supposed to be a good thing, not a bad thing.

The idea of an entity putting money into a company, whether it’s via stocks (for example, an index fund buying massive shares in a company) or a state or local government giving tax breaks for a certain amount of time in return for a company keeping a promise (for example, moving there and creating jobs). So, keep that in mind when comparing Tesla and the other automakers below.

The Other Guys

007 also detailed which other automakers received funds from American taxpayers and whether or not they paid us back. They are:

  •  Ford borrowed $5.937 billion under the ATVM Loan Program. Ford still hasn’t paid that back.
    • As of today, Ford has had a total of at least $33,489,841,570 ($33.49 billion) in subsidies awarded.
  • Nissan borrowed $1.448 billion under the ATVM Loan Program and still hasn’t paid us back.
    • Nissan’s total subsidy value is $1,955,199,450 ($1.96 billion).
  • Fisker Automotive borrowed $529 million under the ATVM Loan Program and went bankrupt. We won’t get that money back.
  • GM and Chrysler both went into bankruptcy and had to be rescued under a separate program.
    • GM’s total subsidy value is $50,346,920,000 ($50.35 billion).
    • Fiat-Chrysler’s total subsidy value is $17,599,200,000 ($17.6 billion).

But people are worried about Tesla, which has had the least amount of subsidies according to this tracker?

Who Else Gets High Amounts Of Subsidies?

I wanted to take this to the next level and include oil companies that are currently creating products that pollute the air. As you know, pollution has been linked to higher Covid-19 deaths and also many, many other illnesses. So, let’s take a quick glance at some of the more popular brands you may be familiar with:

  • Exxon Mobil: total subsidy value is $1,015,682,466 ($1.02 billion);
    • Exxon’s federal loans/bailout assistance total: $3,853,988,000 ($3.85 billion).
  • Chevron: total subsidy value is $117,023,474 ($117 million);
    • Chevron’s federal loan and bailout assistance: $2,074,752,000 ($2.07 billion)
  • Shell: total subsidy value is $1,795,683,725 ($1.8 billion);
    • Its federal loans and bailout assistants total $2,686,000 ($2.69 million).

Although these companies were awarded smaller subsidy amounts than Tesla was, keep in mind that these long established companies pollute our planet and thus bodies in ways that cause all kinds of illnesses and tens or hundreds of thousands of premature deaths a year.

Additionally, they have gotten massive bailouts.

Final 2.5¢

The average American may see criticisms of “Tesla subsidies” and automatically assume that Elon Musk is trying to steal their money and is getting away with it because he is a billionaire. This is simply not the case. Every year, we as taxpayers give billions upon billions of dollars out in subsidies to many, many companies. Tesla has benefitted the least from this while providing some of the most valuable products of the century, which will enable us to have a better future. That is why the government has rightfully invested in Tesla over the years — because the return on investment for society is massive.

Others companies that have been established for decades and contribute every day to deadly pollution also receive subsidies. If Tesla was not going to do so, that would put it on lower ground than the competition and make it harder to succeed — which would hurt everyone. 
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a Patreon.

Have a tip for CleanTechnica? Send us an email: tips@cleantechnica.com
 
 


 

Latest Cleantech Talk Episodes


Latest CleanTechnica.TV Episode


Tags: Bernie Sanders, Chevron, Chrysler, Elon Musk, ExxonMobil, Fisker, Ford, fossil fuels, GM, legacy automakers, Nissan, policy and politics, Royal Dutch Shell, subsidies, Tesla, Tesla Subsidies


About the Author

Johnna Crider is a Baton Rouge artist, gem, and mineral collector, member of the International Gem Society, and a Tesla shareholder who believes in Elon Musk and Tesla. Elon Musk advised her in 2018 to “Believe in Good.” Tesla is one of many good things to believe in. You can find Johnna on Twitter



Source: https://cleantechnica.com/2020/08/03/tesla-subsidies-how-much/

Cleantech

Ford Mustang Mach-E Easily Goes 300+ Miles In Norway

Avatar

Published

on

Cars

Published on September 18th, 2020 | by Zachary Shahan

September 18th, 2020 by Zachary Shahan 


Ford is now testing its hot new Mustang Mach-e electric crossover/SUV in Europe. Naturally, the #1 place to take an electric vehicle is Norway, where approximately 70% of new vehicle sales are now electric (fully electric or plugin hybrid). That’s where Ford has been playing around with the Mustang Mach-E, and the results are looking good (according to Ford’s PR team, but I don’t see any reason to not believe them).

Toward the end of a long press release filled with fluffy marketing language more than anything else, Ford shared that the “all-wheel drive model with a targeted WLTP driving range of 335 miles exceeded energy-efficiency expectations, travelling 301 miles non-stop from Oslo to Trondheim, finishing the journey with 14 per cent battery capacity remaining.” Not too shabby, and that’s not even the extended-range trim, which Ford expects to get a WLTP range rating of 379 miles.

Furthermore, Ford’s charging specs have gotten better. “Latest testing shows charge time has improved by nearly 30 per cent from early estimates, reaching an average of 73 miles of range within 10 minutes using IONITY fast charging, when equipped with an extended-range battery and rear-wheel drive.”

Overall, though, Ford’s message in its press release about European testing is pretty simple: The Mustang Mach-E drives really well. It has a useful low center of gravity due to the big battery on the bottom (because it’s an electric vehicle and Ford considered both basic physics and Tesla’s decade lead in the market). It has great torque (because it’s an electric vehicle).

Though, it was the less obvious benefits touched on in the accompanying video that caught my attention. Depending on what mode you want to drive in, the lighting changes. Cool! The soundproofing is highlighted as noteworthy as well. I’m curious to check that out, especially because the soundproofing on my Tesla Model 3 seems rather weak on fast roads.

Overall, since it was revealed, I’ve thought that the Ford Mustang Mach-E has a winning, true 21st century package. The electric SUV/crossover may prove to be a big item in Europe.

“Whether testing on frozen lakes, in searing deserts, or using state-of-the-art driving simulators, Ford’s engineering teams worked across the globe to develop an all-electric Mustang Mach‑E that delivers a true Mustang driving experience for customers around the world.”

You can read the full press release about the Ford Mustang Mach-E’s European testing here.

There’s also more info on the UK website for the Mustang Mach-E
 


 


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.

Sign up for our free daily newsletter or weekly newsletter to never miss a story.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.


Latest Cleantech Talk Episode


Tags: Ford, Ford Mustang, Ford Mustang Mach E, Ford Mustang Mach-E price


About the Author

Zachary Shahan is tryin’ to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in NIO [NIO], Tesla [TSLA], and Xpeng [XPEV]. But he does not offer (explicitly or implicitly) investment advice of any sort.



Source: https://cleantechnica.com/2020/09/18/ford-mustang-mach-e-easily-goes-300-miles-in-norway/

Continue Reading

Cleantech

Indian Government May Put EV Chargers At 69,000 Gas Pumps

Avatar

Published

on

September 18th, 2020 by Zachary Shahan 


The Indian government has occasionally expressed extremely bold electric vehicle plans. While it is doing a bit to pursue those dreams, it is far away from some of the loftier goals. However, one potentially new move could give a boost to e-mobility in the country — the government is considering a requirement that all gas stations (“petrol stations” as they and the Brits say) include EV chargers.

Well, technically, it wouldn’t be all gas stations — there’s some fine print. The requirement, if implemented, would be for “Company-Owned, Company-Operated (COCO) petrol pumps of state refiners.”

An alternative but similar idea is that the government would install EV chargers at 69,000 gas/petrol stations across India.

One other possible path forward that the government is considering is focusing EV charging investments in and around several major cities — Delhi, Kolkata, Bhopal, Chennai, Hyderabad, Bengaluru, and Vadodara.

One final detail under consideration: requiring that no chargers used for such plans come from China or Pakistan. 
 


 


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.

Sign up for our free daily newsletter or weekly newsletter to never miss a story.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.


Latest Cleantech Talk Episode


Tags: India, India electric vehicles, India EV charging


About the Author

Zachary Shahan is tryin’ to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in NIO [NIO], Tesla [TSLA], and Xpeng [XPEV]. But he does not offer (explicitly or implicitly) investment advice of any sort.



Source: https://cleantechnica.com/2020/09/18/indian-government-may-put-ev-chargers-at-69000-gas-pumps/

Continue Reading

Cleantech

I ♥ ChargePoint

Avatar

Published

on

September 18th, 2020 by Zachary Shahan 


I wrote recently that I’ve had electric cars in Florida for two years and haven’t spent a dime on charging. Nine months were in a BMW i3 (and then we were gone for 3 months) and one year was in a Tesla Model 3 Standard Range Plus. The free charging has been one of the big benefits of driving electric.

There’s one charging network that dominates in providing us with that free charging — ChargePoint. Whether at the grocery store, the mall, the beach, the park, or just right down the street from us at a shopping center, ChargePoint gives us our electrons.

Availability and proximity to where we’re going are paramount, but there are several other things I love about ChargePoint stations — and one or two things I don’t.

Before getting to the things I like, love, and dislike about ChargePoint, though, I should first explain how the network actually works. ChargePoint doesn’t pay to install the stations and it doesn’t decide whether to charge for using the stations or not. That’s all in the purview of the site host. They decide whether to install a station, they pay for it, and they decide whether to charge users to use it. So, all of the free charging I have in my area is thanks in part to ChargePoint (simply for existing), but it is also thanks in large part to the site owners that decided to buy the stations and provide the charging for free. Also, I should perhaps note: yes, free charging attracts customers.

Whether charging should be free or not is a hotly debated topic, and I’d so most EV charging network companies are vehemently against the idea. But it’s really about the business model you choose and what your aims are. If shops or shopping centers just want to attract customers, it may make sense to offer charging like this for free. If, like some other companies (e.g., Volta Charging), you are selling ads on the chargers, again, it makes sense to offer free charging. We’ll see which business models win out in time, or how much market share the different models get, but from a user’s perspective, free charging is ccertainly appealing.

Regarding what I think is superb about the stations themselves, some of these features are features I also love about Tesla Superchargers, and they are all things that I recommend for nearly any public EV charging station company. Let’s have a look.

There are 8 charging ports at 4 charging stalls at this station.

The number of stalls is often decent. This must be a site host choice in the end, but it seems that ChargePoint either does a good job convincing those hosts to put in multiple stalls or is simply frequently selected for such installations.

It’s important to have several charging stalls because it’s a huge downer to get to a charging station and find that all the stalls are in use. This is an especially big issue if you are in big need of a charge — not simply topping up while shopping or hanging out. I seldom get to a ChargePoint station anywhere and find all the stalls in use.

Quite visible: ChargePoint charging stalls are fairly tall, which helps make them easy to find. They also typically have some bright orange on them that further helps to catch the eye, but not in a tacky way.

Aside from these things making it easier for a first-time user to find the station, greater visibility also puts the idea of going electric in front of more people, and encourages others who have been thinking about it to think about it more.

Data, data, data: Being the “smart” chargers they are, ChargePoint provides you with data regarding your charging habits and charging history. Fun.

Charging via phone or RFID card: Simply plugging in and charging (Plug&Charge) would be easier, and some “dumb” chargers in the area allow this, but it is fairly convenient to use my phone to start charging rather than needing an RFID card. That said, the RFID card also has benefits, and even a 2 year old can use it (see picture above).

Retractable cables that stay off the ground! Some charging stations do not have charging cables that are kept off the ground with a fancy little retractable cable systems. They should. This is a great benefit to a user, since it means you don’t have to wrestle with the cable and it doesn’t get covered in dirt and mud from lying on the ground.

Okay, now about a couple of things I don’t like about ChargePoint stations. First of all, an important part of the chargers has been breaking off at some stations. In particular, the chargers are now mostly broken at a location near me that just a couple of years ago had 8 brand new charging ports on 4 stalls. A little metal part that clicks onto the adapter for the Tesla Model 3 has broken off on most of them. (See the pics below.) I’m not sure if the chargers still work for other models, but they never work for the Model 3 with this piece missing.

Not broken.

Broken.

Not broken.

Broken.

Broken charger plugged into car but not secured. “Waiting for vehicle.”

Interestingly, some of the chargers don’t have this metal part. The black plastic just extends into that important shape. I think these ones are newer and the design was perhaps created to deal with this problem.

New? One big black plastic piece instead of black plastic with silver metal on the end (that often breaks off).

Charger on left is broken. Charger on right has full black plastic piece. (It is the charger I’m holding in the picture above this picture.)

The other issue: it seems that it takes ChargePoint a long time to get technicians to come and fix stations. One station was down for months this year. COVID-19 may have been an excuse, but I met the person at the City of Sarasota in charge of their charging stations and he also complained about this problem. That said, it seemed that other companies the city had worked with took even longer to fix or respond to technical problems. So, it appears to be a challenge across the industry.

Overall, though, I love ChargePoint stations and it’s hard to imagine EV life without them!

 
 


 


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon.

Sign up for our free daily newsletter or weekly newsletter to never miss a story.

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.


Latest Cleantech Talk Episode


Tags: chargepoint, free EV charging


About the Author

Zachary Shahan is tryin’ to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in NIO [NIO], Tesla [TSLA], and Xpeng [XPEV]. But he does not offer (explicitly or implicitly) investment advice of any sort.



Source: https://cleantechnica.com/2020/09/18/i-%e2%99%a5-chargepoint/

Continue Reading
Blockchain1 day ago

Ethereum: Is the HODLing in yet?

Nano Technology1 day ago

Physicists make electrical nanolasers even smaller

Nano Technology1 day ago

Nano-microscope gives first direct observation of the magnetic properties of 2D materials: Discovery means new class of materials and technologies

Nano Technology1 day ago

Who stole the light? Self-induced ultrafast demagnetization limits the amount of light diffracted from magnetic samples at soft x-ray energies

Blockchain1 day ago

Brace for it – Bitcoin Futures may be nearing a tipping point

Blockchain2 days ago

Tron, Synthetix, VeChain Price Analysis: 19 September

Blockchain2 days ago

Here’s why Bitcoin’s ‘distracting’ volatility actually helps

Blockchain2 days ago

Stellar Lumens, NEM, Maker Price Analysis: 19 September

AR/VR2 days ago

Someone Remade ‘Among Us’ in VR and It’s Strangely More Fun Than the Original

AR/VR2 days ago

Virtual Tours: The Key to a Successful School Marketing Plan

Crowdfunding2 days ago

Spanish Financial Giant BBVA’s US Division Recognized as one of the Best Corporate Digital Banks in North America

Gaming2 days ago

Evening Reading – September 18, 2020

AI2 days ago

7 Awe Inspiring AI Techs That Transformed The Digital World

Entrepreneur2 days ago

100X.VC Unveils Its Class 02 Investments

Payments2 days ago

Here’s how Nasdaq-listed MicroStrategy went about buying $175m in Bitcoin

Esports2 days ago

Lenovo Legion Sponsors G2 Esports as Hardware Partner

CNBC2 days ago

Supreme Court Justice Ruth Bader Ginsburg dies at age 87

Energy2 days ago

Shanghai Electric Showcases Smart Energy Solution at China International Industrial Expo on World’s Clean Up Day

Entrepreneur2 days ago

Preventive Healthcare Market Dilating in India

Cannabis2 days ago

5 weed products Tommy Chong can’t live without

Gaming2 days ago

Shacknews Twitch Highlights: Rocket League, Fight Crab, and Quest 64

Entrepreneur2 days ago

More gets 275 Crore INR From Amazon, Samara Capital

Big Data2 days ago

TikTok filed a complaint against Trump administration to block U.S. ban: Bloomberg News

Blockchain2 days ago

Seoul Police Summons Bithumb Chairman For Interrogation

Cyber Security2 days ago

6 Crucial password security tips for everyone

CNBC2 days ago

‘Thank you, RBG’: Leaders react with sadness, shock to Ruth Bader Ginsburg’s death

Gaming2 days ago

Shack Chat: What’s your reaction to the September PlayStation 5 Showcase?

Cleantech2 days ago

Ford Mustang Mach-E Easily Goes 300+ Miles In Norway

Gaming2 days ago

Apple and Sony Events – The TouchArcade Show #462

Esports2 days ago

Here’s the schedule for the 2020 League of Legends World Championship

Gaming2 days ago

Weekend PC Download Deals for Sept. 18: Steam Pirate Sale

Gaming2 days ago

Shacknews Dump – September 18, 2020

Crowdfunding2 days ago

India-Based Insurtech ACKO Secures $60 Million Through Latest Funding Round Led By Munich Re Ventures

Crowdfunding2 days ago

Google Temporarily Removes Paytm Mobile App from Play Store Due to Supposedly Being in Violation For Gambling

Gaming2 days ago

TouchArcade Game of the Week: ‘Songbringer’

CNBC2 days ago

In Photos: Crowd gathers in front of the Supreme Court to mourn Justice Ruth Bader Ginsburg

CoinTelegraph2 days ago

Pinned below $11K, Bitcoin price plays second fiddle to Uniswap (UNI)

CNBC2 days ago

Trump nominee to replace Ruth Bader Ginsburg on Supreme Court will get Senate vote, McConnell says

Cleantech2 days ago

Indian Government May Put EV Chargers At 69,000 Gas Pumps

Blockchain2 days ago

The Last Time This On-Chain Metric Was This Low, Bitcoin Surged 150%

Trending