Tesla: Biden finally praises Elon Musk in the face of fierce Chinese EV competition
To fight China's EV market challenge, US President Joe Biden has stated that the government is creating a reliable nationwide public charging network.
US President Joe Biden, in his first public acknowledgement of Elon Musk's Tesla's contribution to the world of electric vehicles (EVs), stated that the country is developing a reliable national public charging network to fight China's EV market dominance.
Biden's statement came following Tesla CEO Musk's frequent complaints on Twitter about his administration's inaction.
From legendary firms like General Motors and Ford expanding electric car production to Tesla, our country's largest electric vehicle manufacturer, and inventive newer companies, manufacturing is returning to America after decades, he stated late Tuesday.
The US President continued in a tweet on Wednesday: "China has been the leader in the race to develop electric vehicles, but that is soon to change. We are establishing a national public charging network that is convenient, dependable, and equitable. It will increase America's economic competitiveness while also assisting us in addressing the environmental catastrophe. "
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Musk responded to his tweet by simply writing "Tesla".
Musk claimed last month that Biden was "handling the American people like fools" during a meeting with CEOs from rival automakers General Motors and Ford Motor.
Biden invited General Motors CEO Mary Barra and Ford CEO Jim Farley, as well as other business leaders, to the White House to discuss his administration's $1.75 trillion 'Build Back Better' legislation, which was stalled in the evenly divided Senate after US Senator Joe Manchin (D-W.Va.) refused to support it.
The enormous budget plan would increase the $7,500 tax credit for union-made electric vehicles to $12,500 and would also reinstate GM and Tesla's eligibility for the existing tax credit after they reach the program's 200,000-vehicle limit.
Biden lauded General Motors' recent $7 billion investment in Michigan to accelerate the manufacture of electric vehicles.
Companies like General Motors and Ford are building more electric vehicles here in the United States than at any time in history, "the president tweeted following the meeting," prompting Musk to respond that Biden was treating the American public "like fools."
Musk also tweeted that "Biden is a human-sized damp (sock) puppet" and that he "Starts with a T, Ends with an A, ESL in the middle."
Musk is hardly the first person to take on Biden.
In September of last year, the electric vehicle pioneer stated that the US administration was "perhaps a little biassed" and "looks to be controlled by unions."
In 2021, Tesla and electric vehicles in general had a breakthrough year, as the EV maker completed the year with $5.5 billion in net income, up from $721 million in 2020.
In 2021, the company delivered 936,172 vehicles, falling short of the promised 1 million but still representing an 87 percent increase over the previous year.
According to Gartner, global shipments of electric vehicles (battery electric and plug-in hybrid) are expected to reach six million in 2022, up from four million in 2021.
With China forcing automakers to sell 40% of all vehicles by 2030 and automakers creating new plants to manufacture electric vehicles, Greater China will account for 46% of global EV shipments in 2022. According to Gartner, North America is predicted to be the third largest region in terms of EV shipments this year.
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