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Electric Vehicles

NEPA Takes a Hit From the Supreme Court
Climate

AM Briefing: NEPA Takes a Hit

On the environmental reviews, Microsoft’s emissions, and solar on farmland

Climate

AM Briefing: Senate Overturns California Waiver

On striking down the California waiver, the tax bill, and BYD

Yellow
Electric Vehicles

AM Briefing: Trump Admin Gives Empire Wind the Go-Ahead

On a surprise agreement, DOE loans, and pipeline permitting

Yellow
Hailing a Robotaxi.

Tesla’s Robo-Future Is Still Pretty Far Off

The company says its first Optimus robots will start rolling off the line in “2026.”

Green
Republicans Waver Over Cost, Energy Ahead of Budget Vote

AM Briefing: Republicans Waver Over Cost, Energy Ahead of Budget Vote

On budget negotiations, Climeworks, and DOE grants

Yellow
Electric Vehicles

Congress Could Break Tesla’s Revenue Model

Between the budget reconciliation process and an impending vote to end California’s electric vehicle standards, a lot of the EV maker’s revenue stands to go poof.

Elon Musk and the Capitol.
<p>Heatmap Illustration/Getty Images</p>

It’s shaping up to be a very bad week for Tesla. The House Committee on Energy and Commerce’s draft budget proposal released Sunday night axes two of the primary avenues by which the electric vehicle giant earns regulatory credits. Congress also appears poised to vote to revoke California’s authority to implement its Zero-Emission Vehicle program by the end of the month, another key source of credits for the automaker. The sale of all regulatory credits combined earned the company a total of $595 million in the first quarter on a net income of just $409 million — that is, they represented its entire margin of profitability. On the whole, credits represented 38% of Tesla’s net income last year.

To add insult to injury, the House Ways and Means committee on Monday proposed eliminating the Inflation Reduction Act’s $7,500 consumer EV tax credit, the used EVs tax credit, and the commercial EVs tax credit by year’s end. The move comes as part of the House’s larger budget-making process. And while it will likely be months before a new budget is finalized, with Trump seeking to extend his 2017 tax cuts and Congress limited in its spending ability, much of the IRA is on the chopping block. That is bad news for clean energy companies across the spectrum, from clean hydrogen producers to wind energy companies and battery manufacturers. But as recently as a few months ago, Tesla CEO Elon Musk was sounding cavalier.

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Electric Vehicles

AM Briefing: Biggest Blows Yet to the IRA

On gutting energy grants, the Inflation Reduction Act’s last legs, and dishwashers

GOP Budgets Propose Biggest Blows Yet to the IRA
<p>Heatmap Illustration/Getty Images</p>

Current conditions: Eighty of Minnesota’s 87 counties had red flag warnings on Monday, with conditions expected to remain dry and hot through Tuesday15 states in the South and Midwest will experience “extreme” humidity this weekIt will be 99 degrees Fahrenheit today in Emerson, Manitoba. The municipality hit 100 last weekend — the earliest in the year Canada has ever recorded triple digits.

THE TOP FIVE

1. The Energy and Commerce Committee’s budget would kill clean energy grants ...

Republicans on the House Committee on Energy and Commerce released their draft budget proposal on Sunday night, and my colleague Matthew Zeitlin dove into its widespread cuts to the Inflation Reduction Act and other clean energy and environment programs. Among the rescissions — clawbacks of unspent money in existing programs — and other proposals, Matthew highlights:

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