Biden administration reportedly dismissed Tesla Inc.’s TSLA utility for about $100 million to fund a big-rig charging hall, to the exasperation of the EV large’s CEO Elon Musk.
What Occurred: TechCrunch reported on Monday that Tesla had utilized for funding for a big-rig charging hall venture. The knowledge was confirmed by its venture companion California’s South Coast Air High quality Administration District.
Nevertheless, Tesla was not named within the listing of 49 candidates to whom the Division of Transportation (DOT) gave over $635 million in funding on Friday to construct EV charging infrastructure.
Tesla first requested funding in 2023 from the Charging and Fueling Infrastructure program to construct 9 semi-truck charging stations between its former headquarters in California to the southern border of Texas, formally referred to as Project TESSERACT. Nevertheless, the division selected different candidates over Tesla even then.
CEO Responds: Musk responded to the information on social media platform X with a short, “Sigh.”
Why It Issues: The standing of the massive rig charging hall is unclear. Tesla didn’t instantly reply to Benzinga‘s request for remark.
Tesla has its personal quick charging community. Earlier this month, the corporate mentioned that it opened over 11,000 supercharger stalls in 2024, taking the overall variety of superchargers to over 65,000.
The expansion of Tesla’s supercharger community was in query after the corporate introduced layoffs of at the very least 10% of its international workforce in April. The layoffs impacted 500 members of the supercharging team and Rebecca Tinucci, Tesla’s then Senior Director of Charging Infrastructure, left the corporate.
Throughout Tesla’s annual shareholder assembly in June, Musk, nonetheless, slammed rumors of the death of the supercharger network as “vastly exaggerated.”
“Our supercharger community is continuous to develop,” Musk mentioned whereas including the corporate will make investments $500 million into increasing the community in 2024.
Try extra of Benzinga’s Future Of Mobility protection by following this link.
Learn Subsequent:
Picture courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2025 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
