EU Considers Massive Electric Vehicle Support (05.19.20)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 20 May 2020
⏱️ 6 minutes
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Summary
➤ Bloomberg reports that the European Union is considering funding massive support of electric vehicles as it seeks to assist in both recovery and transformation of the automotive industry
➤ Tesla could be a beneficiary of the policies reportedly being discussed
➤ EU automotive VAT breakdown: https://www.acea.be/statistics/article/interactive-map-electric-vehicle-incentives-per-country-in-europe-2018
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Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob Maower here and today we're talking about some potentially huge |
| 0:10.9 | news from the European Union around their plans for |
| 0:13.2 | supporting the automotive industry and in particular in those plans |
| 0:16.3 | electric vehicles yesterday of course we talked about France's minister of |
| 0:19.9 | economy and finance and France's desire overall to support electric vehicles. |
| 0:24.3 | Today we're hearing from Bloomberg that quote the European Commission is set to promote a shift |
| 0:29.2 | to electric vehicles as part of greening the economic recovery plan." |
| 0:33.0 | I don't have access to the full article, but Christoph Baru did share this from Bloomberg Terminal on Twitter. |
| 0:38.0 | So the details behind some of what this shift might include are coming from a draft that was reportedly seen by |
| 0:43.7 | Bloomberg News of a European Union document. They say that the European Union is |
| 0:48.4 | considering incentives for carmakers to produce and sell clean cars and |
| 0:52.2 | investments in charging |
| 0:53.6 | infrastructure for EVs as well. And this document reportedly said, quote, |
| 0:57.5 | massive support for the automotive industry will put significant debt on future |
| 1:01.0 | generations. That support must respect our use expectation |
| 1:04.8 | on climate change and for a healthier and cleaner future." |
| 1:07.4 | End quote. |
| 1:08.2 | There are four points here on what may be included |
| 1:10.6 | in a future support plan. |
| 1:12.3 | They are saying that they may propose an EU-wide purchasing |
| 1:15.2 | facility amounting to 20 billion euros in the next two years. |
| 1:19.5 | They are also reportedly considering starting a clean automotive investment fund of 40 to 60 billion euros, |
... |
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