Tesla Is Slashing Prices, But Why? Wyoming Takes Backwards Stance On EV Sales
Tesla’s slashed prices could mean two big things for the EV industry, and Wyoming lawmakers want to stop EV sales.
Be prepared for a wild ride in 2023, because we have a feeling this year is going to be really weird with EV news. From Wyoming phasing out EVs to Tesla playing economic hardball, we’re already getting it all in the first few weeks.
The first shoe to drop is Tesla. On January 13th, Teslas announced a sweeping reduction in prices, according to Reuters. All all models and most trims will see a reduction in price, from 6% to 20%. And that’s before tax credits. Some of the qualifying factors for the tax credits excluded the Model Y, for example. But the price cuts make it eligible again. So the tax credits explain one reason behind the price reductions.
But the other elephant in the room is the onset of competition from established automakers. In order for Ford, Chevrolet, Kia and more to play in this playground, they must first beat Tesla at king-of-the-mountain. Lower priced Teslas will make that game extremely hard to play. That said, Teslas getting a price reduction, and qualifying for tax credits can result in a new car that is essentially 30% off. New players to the game simply can’t afford to do that.
Wyoming thinks residents of the state should pick if they want an EV or not.
New York is embracing electric power. California obviously is too. Wyoming? They’ll take a pass. According to Engadget, Wyoming lawmakers want to phase out EV sales in the state. It’s purely a symbolic and
political move, but it also allows residents of the Equality State to voluntarily comply with the measure. Wyoming has an interesting economic background, too. Oil exports are a big part of the state’s ability to generate income. Naturally gas powered cars are going to receive favor. At the same time, the state also has one of the nation’s largest wind farms. Arguments that the state isn’t doing enough for green energy fall short with that information.
What is a valid point in the proposed bill is that rural areas see technology advancements several years later than urban areas. Downtown Los Angeles will have a full array of chargers long before Cheyenne does.