Billionaire Elon Musk’s Tesla Motors Canada Inc. received more than $125 million in federal subsidies in the past two years, accounts show, as reported by Blacklock’s Reporter..The California carmaker was the largest beneficiary of $5,000 federal rebates for electric car buyers..Data from the Department of Transport indicate Tesla Motors was reimbursed for $118.6 million in rebates in the period from 2019 to this past April 1. Tesla does not have a Canadian factory. The company last year paid CEO Musk $11 billion in stock options, according to Forbes magazine..The Department of Natural Resources paid Tesla’s Canadian subsidiary another $5,896,959 to install electric charging stations in British Columbia, Alberta and Saskatchewan. A total 156 stations were installed in the three provinces at a cost to taxpayers of almost $38,000 each..Critics of the electric car rebate have called it an unnecessary subsidy for the affluent. Buyers of Teslas priced at up to $55,000 are eligible for the rebate..“A $55,000 vehicle would be a luxury vehicle for most Canadians,” Conservative MP Brad Redekopp (Saskatoon West) earlier told the Commons environment committee..“Essentially what we’re doing is subsidizing a vehicle that a wealthy person is going to buy.”.“Tesla has received the most subsidies from this program,” testified Aaron Wudrick, then-federal director of the Canadian Taxpayers Federation. “I think it’s a fair question to ask whether regular Canadian taxpayers should be subsidizing the purchase of luxury vehicles for people who are prepared to pay full price for them. I would suggest the answer is no.”.“If the purpose of these subsidies is to encourage the uptake of zero emission vehicles, it seems a relevant question is whether they are actually leading to a higher uptake or simply providing subsidies to people who were going to buy zero emission vehicles anyway,” said Wudrick..“It’s especially fair to ask that given the price points that we’re talking about here. Even a $45,000 vehicle, I would suggest, never mind a $55,000 vehicle, would be considered a luxury vehicle by most Canadians.”.The Liberal Party in its election platform Forward For Everyone proposed to expand the rebate program to include sales of used electrics. Additional subsidies would cost $675 million a year including grants to install more charging stations, according to the Parliamentary Budget Office..The Commons environment committee in an April 13 report The Road Ahead acknowledged electrics remain too costly for most drivers, an average $56,000 before rebates compared to $28,000 for a conventional vehicle.
Billionaire Elon Musk’s Tesla Motors Canada Inc. received more than $125 million in federal subsidies in the past two years, accounts show, as reported by Blacklock’s Reporter..The California carmaker was the largest beneficiary of $5,000 federal rebates for electric car buyers..Data from the Department of Transport indicate Tesla Motors was reimbursed for $118.6 million in rebates in the period from 2019 to this past April 1. Tesla does not have a Canadian factory. The company last year paid CEO Musk $11 billion in stock options, according to Forbes magazine..The Department of Natural Resources paid Tesla’s Canadian subsidiary another $5,896,959 to install electric charging stations in British Columbia, Alberta and Saskatchewan. A total 156 stations were installed in the three provinces at a cost to taxpayers of almost $38,000 each..Critics of the electric car rebate have called it an unnecessary subsidy for the affluent. Buyers of Teslas priced at up to $55,000 are eligible for the rebate..“A $55,000 vehicle would be a luxury vehicle for most Canadians,” Conservative MP Brad Redekopp (Saskatoon West) earlier told the Commons environment committee..“Essentially what we’re doing is subsidizing a vehicle that a wealthy person is going to buy.”.“Tesla has received the most subsidies from this program,” testified Aaron Wudrick, then-federal director of the Canadian Taxpayers Federation. “I think it’s a fair question to ask whether regular Canadian taxpayers should be subsidizing the purchase of luxury vehicles for people who are prepared to pay full price for them. I would suggest the answer is no.”.“If the purpose of these subsidies is to encourage the uptake of zero emission vehicles, it seems a relevant question is whether they are actually leading to a higher uptake or simply providing subsidies to people who were going to buy zero emission vehicles anyway,” said Wudrick..“It’s especially fair to ask that given the price points that we’re talking about here. Even a $45,000 vehicle, I would suggest, never mind a $55,000 vehicle, would be considered a luxury vehicle by most Canadians.”.The Liberal Party in its election platform Forward For Everyone proposed to expand the rebate program to include sales of used electrics. Additional subsidies would cost $675 million a year including grants to install more charging stations, according to the Parliamentary Budget Office..The Commons environment committee in an April 13 report The Road Ahead acknowledged electrics remain too costly for most drivers, an average $56,000 before rebates compared to $28,000 for a conventional vehicle.
