Tesla can benefit from Biden's plan to modernize the US economy

The US President Joe Biden has unveiled a $2 trillion fiscal package, much of which is to go to modernize the infrastructure or build an ecosystem for electric car development.

It is not difficult to conclude that one of the beneficiaries of Biden's plan will be the currently most valuable American car producer Tesla.

Infrastructure is a key factor in the development of electromobility. Without a sufficiently dense network of charging stations and a robust electrical network, a gradual departure from vehicles with conventional combustion engines is hard to imagine.

$174 billion is to be allocated directly to building the ecosystem for electric vehicles from Biden's fiscal package. It is a relatively clear signal that the new US administration is serious about the development of electromobility.

But the US government is already supporting electromobility. For example, through tax credits, which can currently amount to up to a fifth of the purchase price of the electric vehicle. However, Tesla already supplies so many vehicles to the market that its customers cannot draw tax relief. However, according to analysts, it is likely that Joe Biden will remove any limits and those who want to buy Tesla will write off part of its price through federal tax credits.

Dey, Easton, Bloomberg

Rublin, The Barron's Daily

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