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%).