Courtesy of Tesla, Inc.
Thanks to the New Zealand government’s Clean Car policy, Tesla’s revenues have seen an exceptional leap from $66 million in 2020 to nearly half a billion dollars in 2022.
According to Tesla New Zealand’s financial statements, the company’s revenue stood at $499.5 million in 2022, more than double from $230.7 million in 2021, reports NZ Herald.
The Clean Car Discount scheme, which started on July 1, 2021, has been instrumental in this growth. It provides rebates on electric vehicles (EVs) and other clean cars funded by a levy on pollution-intensive cars. Acting Transport Minister Kieran McAnulty attributed the rapid adoption of EVs in the country to this scheme.
The minister also noted that the cost of EVs has decreased considerably in recent years, making them more accessible to consumers. Several popular models are now available in the $50,000 to $60,000 range, down from around $80,000. He further added that rebates for used-import EVs would rise from $3450 to $3507.50 to stimulate the supply of used EVs, which remains constrained.
Despite the policy’s success, Simeon Brown, National’s transport spokesman, criticized it, claiming that it benefits billionaires like Elon Musk while imposing a burden on hardworking farmers and tradespeople. He suggested that the scheme should be abandoned.
Despite the controversy, Drive Electric’s poll suggests that the majority of voters, including about 42% of National voters, support the policy. Meanwhile, Tesla’s profitability in New Zealand is on the rise, with a net profit of $8 million reported in 2022, four times higher than in 2021.
