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(Reuters) – Tesla Inc had plans to build its pilot small electric SUV Model Y at Gigafactory 1 by June 1, 2020, the Business Insider reported on Monday, citing leaked internal documents, but said the company changed its plans later cufflinks nyc uk online. The electric carmaker planned a production ramp of 7,000 Model SUVs a week at the plant in Nevada by December 2020, and 5,000 Model Ys a week at its China Gigafactory by February 2021, the website said here, citing documents sent to staff before Tesla’s earnings call in October..
WASHINGTON (Reuters) – White House economic adviser Larry Kudlow said on Monday the Trump administration wants to end subsidies for electric cars and other items, including renewable energy sources. Asked about plans after General Motors Co (GM.N) announced U.S. plant closings and layoffs last week, Kudlow pointed to the $2,500-to-$7,500 tax credit for consumers who buy plug-in electric vehicles, including those made by GM, under federal law. “As a matter of our policy, we want to end all of those subsidies,” Kudlow said. “And by the way, other subsidies that were imposed during the Obama administration, we are ending, whether it’s for renewables and so forth.” cufflinks nyc uk online.
Asked about a timeline, he said: “It’s just all going to end in the near future. I don’t know whether it will end in 2020 or 2021.”. The tax credits are capped by Congress at 200,000 vehicles per manufacturer, after which the subsidy phases out. GM has said it expects to hit the threshold by the end of 2018, which means under the current law, its tax credit scheme would end in 2020 cufflinks nyc uk online. Tesla Inc (TSLA.O) said in July it had hit the threshold. Other automakers may not hit the cap for several years..
Experts say the White House cannot change the cap unilaterally. U.S. President Donald Trump last week threatened to eliminate subsidies for GM in retaliation for the company’s decision. Kudlow made clear any changes in subsidies would not just affect GM. “I think legally you just can’t,” he said. Democrats will take control of the U.S. House in January and are unlikely to agree to end subsidies for electric cars and many have been pushing for additional incentives. Tesla and GM have lobbied Congress for months to lift the cap on electric vehicles or make other changes, but face an uphill battle make changes before the current Congress expires cufflinks nyc uk online.
WASHINGTON (Reuters) – Top U.S. Federal Reserve officials say a strong economy will likely keep their rate increase plans intact, but on Monday a key signal began to waver that may intensify debate about whether conditions are as solid as they seem cufflinks nyc uk online. The gap in interest rates between 2-year US2YT=RR and 10-year US10YT=RR Treasury securities narrowed to its smallest in more than a decade, dipping below 0.15 percentage point. That gap, or “spread,” is regarded as a particularly important benchmark among some central bank officials for gauging recession risk and weighing investor doubt about the future..