Kudlow teases end of EV subsidies

Dec. 03, 2018 2:01 PM ETGeneral Motors Company (GM)F, GM, TM, HMC, NSANY, TSLA, STLABy: Clark Schultz, SA News Editor387 Comments
  • White House economic adviser Larry Kudlow told reporters that the White House is planning to get rid of electric car subsidies and other Obama-era auto subsidies, according to Bloomberg.
  • Kudlow's statement was in response to if General Motors (GM +1.8%) would be subject to subsidy action from the government on its own.
  • The EV subsidies could be phased out as early as 2020 or 2021, noted Kudlow.
  • Tesla (TSLA +2.1%) has moved lower from its trading level earlier in the day after the Kudlow statement.
  • Auto stocks: Nissan (OTCPK:NSANY +1%), Ford (F +2.6%), Honda (HMC +1.9%), Toyota (TM +1.6%), Fiat Chrysler Automobiles (FCAU +3.7%).

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