Without Government Subsidies, Tesla Sales In Hong Kong Fall To Zero
If you need proof that government subsidies are the only thing propping up the green energy industry, look no further than Hong Kong.
As reported by the Wall Street Journal, newly registered Tesla cars in Hong Kong fell from from 3000 in March, to 0 in April.
Because Hong Kong stopped providing massive tax breaks to people buying Tesla vehicles. In fact, in April the price of the Tesla Model S four-door car rose from $75,000 to $130,000—a giant 60% increase.
So much for Tesla’s dream of “affordable” electric cars.
Government subsidies keep the green energy industry competitive. Period.
The worst part is that electric cars don’t do much for the environment either. The amount of carbon “saved” by electric vehicles is valued at around $35. The below video makes the point nicely.
Of course, it’s not just Tesla. The entire green industry relies upon government subsidies. Anyone else remember Solyndra?
Hong Kong provides an important lesson to people that think investing in green energy is a good idea: after over a decade in the market and billions invested in research, Tesla still isn’t profitable without taxpayer money.