Former Tesla exec claims EV industry will grow, not shrink, after death of $7,500 tax credit: ‘The market’s established’

Speaking to CNBC on Thursday, McNeill expressed his confidence that despite the end of the last major tax credit, the industry will continue its upward path, and strengthens it with more typical options and the availability of low -price vehicles.

He referred to Europe as a case study, noting that when countries like Germany retreated their benefits two years ago, the EV market continued “amazing … in growth.”

McKenil suggested that the United States is preparing for similar results, saying: “The established market, and we are ready to get a market that can grow without subsidies.”

Now he added that there are now 65 different styles of EV now available to consumers, and when combining EVS and Jula, one in four cars sold in the United States are now electrification.

He said that the last party of tax credit had created a “demand for demand”, which led to a quarter of a crowd of agents. However, this sales increase are not limited to one company. While Tesla witnessed an increase of 7 %, General Motors increased the sales of EV in the same quarter compared to the previous year. This McNeill explained this as a positive sign, especially since many of these sales were for low -price models.

The completed tax credit bomb

McNeel’s comments came amid a set of responses to the end of the EV tax credit. Jim Farley, Ford CEO, while conducting an interview with him during the Ford Pro summit acceleration in Detroit, seized the opposite, which is expected to be reduced by the EV industry.

He said that EVS will remain a “vibrant industry” in the future, but he also said it “will be much smaller and smaller than we thought.” He added that the end of the 7500 dollar consumer incentive is “the game change”, as it is expected to be a sharp decrease in EV sales to 5 % of the industry from the current level from 10 % to approximately 12 %.

“Customers are annoying,” Farley said, adding that “customers are not interested in an electric vehicle worth $ 75,000. They find them interesting. They are effective. You don’t go to the fuel station. But they are expensive.”

Recharge your home in your car

McNeel said that one of the argument in favor of the EV sector is the benefit of the increasing vehicles to the transportation. He discussed the emerging trend of vehicles that work as electric sources for homes. He explained that this “dual -direction” ability allows EVS to pay energy again to the network. Share a personal example, saying that EV can run his home for two weeks, eliminating the need for a separate birth.

“A more interesting partial electrification for customers than we thought … we believe that the hybrid ingredients, EV, E-levs, this type of partial electric solution, will fall in love with it, or already falls in love with it.” He added that this is a special matter in particular in states such as Florida and Texas.

McNeel stated that his local benefit provided him with a “great break on my utility bills” in exchange for allowing them to reach only 20 % of his car battery capacity. While a handful of EVS only offers this feature, it is believed that “we will see more and more.”

He said that the policy that supports this integration is likely to come from the state level instead of the federal government. Since the United States has more than a thousand central networks, it is more than the issue of the state, and the countries were generally “more progressive” in creating incentives to help facilities maintain the costs of electricity.

For this story, luck The artificial intelligence is used to help with a preliminary draft. Check an editor of the accuracy of the information before publishing.

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