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Thursday, December 9, 2021

Is the Biden Administration biased against Tesla?

Bloomberg News reports that Tesla Inc. CEO (Chief Executive Officer), Elon Musk commented that President Joe Biden and the administration are “biased” against Tesla. He highlighted an instance, of an event at White House praising all-electric vehicles that did not include Tesla. 

Musk while speaking Tuesday at Code Conference, Beverly Hills California said that the administration is highly influenced by organized labor and went on to say that he would prefer to see a more centrist president. 

Musk also said that not for once did the President mention Tesla and instead kept on praising other electric vehicle automakers like Ford and GM for being a leader in the Russian revolution. He made these comments with Kara Swisher while on stage. Musk further expressed his displeasure that the administration is not friendly, and it appears to be under the control of the unions. 

Bloomberg News says that, however, the White House did not make any comments. And Musk further said that he would never want to be the President. 

Tesla has its headquarters in Palo Alto, California and it offers employment to about 10,000 workers at the Fremont plant. There have been many efforts by the United Auto Workers to organize the workforce here. 

He also mentioned in the conversation that working with the US government was an important step in doing business in the United States, Musk said while discussing Space Exploration Technologies Corp, where Musk also serves as the Chief Executive Officer. 

Cracking a joke while discussing the topic, Musk also said that the US Securities and Exchange Commission should be known as the “Shortseller Enrichment Commission”. 

He had earlier tweeted the reference in April 2018, after having reached an agreement with the agency that prevented him from working as the chairman of Tesla as punishment for a set of social media posts that appeared to be problematic. 

Elon Musk also said about a report by ProPublica in June that stated he did not pay the adequate income tax relative to the size of his wealth, which is estimated at $209.6 billion as per Bloomberg Billionaires Index. Elon Musk also said that he did not draw any salary from Tesla or Space X and that he paid an effective tax rate of 53% on his stock options. He also added that the tax rate is expected to rise next year. According to Bloomberg News, Musk said that his taxes are very high. 

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Josie Patra
Josie Patra is a veteran writer with 21 years of experience. She comes with multiple degrees in literature, computer applications, multimedia design, and management. She delves into a plethora of niches and offers expert guidance on finances, stock market, budgeting, marketing strategies, and such other domains. Josie has also authored books on management, productivity, and digital marketing strategies.

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