This past week was quite eventful for Tesla Inc. (NASDAQ:TSLA). From a Gov. Gavin Newsom-backed (D-CA) EV rebate program to an affordable financing program in China, let’s take a look at what captured the headlines for the Elon Musk-led EV maker this week.
Gavin Newsom’s $1 Billion EV Incentive Program
Newsom unveiled a $1 billion EV incentive program that could potentially benefit the Tesla Semi. The program, set to kick off on June 26, will offer rebates ranging from $7,500 to $120,000 to authorized retailers and target commercial vans, electric semi trucks and more. The program will initially receive $250 million in funding this year.
Tesla’s Affordable Financing Plan
Following a dip in its domestic sales, Tesla has introduced new, affordable financing options in the Chinese market for the models produced in the company’s Shanghai Gigafactory. The program, available to consumers who complete their purchase by May 31, 2026, offers lower down payments and monthly payments.
North American EV Demand Drops
Despite rising global sales and the ongoing Iran war, North American demand for EVs has seen a decline in April. Registrations across North America fell by 28% to 120,000 units despite a near 50% increase in sales this year in the Mexican market.
Robotaxi Woes, FSD’s Forced Feedback
Tesla’s self-driving push also saw some criticism this week as a Reuters investigation released on Thursday revealed the several challenges the company’s Robotaxi services face in Texas, with a 20-minute drive to the city hall taking over 2 hours in Dallas, according to the report.
Tesla is also reportedly forcing customers to provide feedback following incidents of the Full Self-Driving (FSD) system’s disengagements via voice notes, in a move unlike earlier feedback methods, which gave drivers a choice, Electrek reported on Thursday.
Ford’s New Battery Storage Push
Ford Motor Co. (NYSE:F) looks set to challenge Tesla’s energy storage business with a new battery storage system push. The automaker announced that deliveries will begin in late 2027 for its flagship, the DC Block, a 20-foot-long containerized storage system.
China Investigates EV Makers
Chinese authorities have launched an investigation into EV makers following claims from owners that their cars’ range was reduced by approximately 125 miles after a software update. The probe has resulted in three EV makers being placed under investigation. Tesla and rival BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) have denied any wrongdoing.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.
Photo courtesy: Mijansk786 on Shutterstock.com
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