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You are at:Home » Since 2016, Tesla, owned by Elon Musk, has secured approximately £200 million in subsidies from the UK.
Since 2016, Tesla, Owned By Elon Musk, Has Secured Approximately
Technology January 8, 2025

Since 2016, Tesla, owned by Elon Musk, has secured approximately £200 million in subsidies from the UK.

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Analysis shows that since 2016, Elon Musk’s electric car company has received approximately £200m in subsidies from the UK government.

Tesla, led by a tech billionaire who is actively engaging with the UK government, has been granted £191m in funds from Westminster, as reported by Tassel, a public contract data analysis company.

The majority of this funding, £188m, came from the Department for Transport (DfT) over the specified period.

These subsidies were primarily related to the Plug-in car subsidy aimed at encouraging the adoption of electric vehicles and plug-in hybrids. Initially introduced in 2011, this subsidy provided a discount on the purchase price of new plug-in cars, starting at £5,000, until its conclusion in June 2022.

Recent figures from DfT reveal that transportation subsidies peaked at £61.6m in 2020 and have since decreased, with Tesla receiving £49,000 in the first half of the previous year.

Additional grants for Tesla in the UK were provided by entities such as Stirling Council, South Central NHS Trust, and the Scottish Government.

The fact that Tesla has benefited from British government subsidies contrasts with Elon Musk’s statements about reducing government intervention and expenditure.

Musk was appointed by U.S. President-elect Donald Trump to co-lead the Office of Government Efficiency, with plans to streamline federal operations. He also mentioned plans to streamline X’s workforce after acquiring the company in 2022 and reducing the number of federal agencies in the U.S.

Tesla recently reported a decline in annual deliveries for the first time, as incentives failed to drive demand for its older models, missing quarterly targets several times in 2024.

As the world’s wealthiest individual, Musk has utilized X to criticize politicians such as Keir Starmer regarding recent scandals.

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Prime Minister criticized Elon Musk for his recent attacks on the government, denouncing his spreading of misinformation about gang raids.

Tesla has been contacted for a response.

Source: www.theguardian.com

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