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Elon Musk: Incentives Not Necessary, But Helpful
By Reem Nasr, Jun. 1, 2015, CNBC
Tesla CEO Elon Musk said Monday that a Los Angeles Times articleclaiming his companies received government subsidies is incorrect.(Tweet This)
"The article makes it seem as though my company is getting some huge check, which is fundamentally false," he told CNBC's "Power Lunch."
According to the article, Musk's three companies, Tesla, SolarCity and SpaceX, "have benefited" from a total of about $4.9 billion in government subsidies. Musk said that the article was misleading and did not accurately portray the situation.
Shares of Tesla were down slightly in late trading Monday.
Musk said that "none of the incentives are necessary, but they are all helpful," referencing incentive packages some of his companies received to build factories in states like Nevada. He said that the reason these incentives exist is because "voters want a particular thing to happen, and faster than it might otherwise occur."
Read the full story: www.cnbc.com
Tesla CEO Elon Musk said Monday that a Los Angeles Times articleclaiming his companies received government subsidies is incorrect.(Tweet This)
"The article makes it seem as though my company is getting some huge check, which is fundamentally false," he told CNBC's "Power Lunch."
According to the article, Musk's three companies, Tesla, SolarCity and SpaceX, "have benefited" from a total of about $4.9 billion in government subsidies. Musk said that the article was misleading and did not accurately portray the situation.
Shares of Tesla were down slightly in late trading Monday.
Musk said that "none of the incentives are necessary, but they are all helpful," referencing incentive packages some of his companies received to build factories in states like Nevada. He said that the reason these incentives exist is because "voters want a particular thing to happen, and faster than it might otherwise occur."
Read the full story: www.cnbc.com
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