Elon Musk says Tesla will pay customers if late deliveries lead to a smaller electric vehicle tax credit

Patrick Fallon / Reuters

  • Tesla CEO Elon Musk says the car company will pay customers who may miss out on money from an electric vehicle tax credit due to delayed deliveries. 
  • The $7,500 tax credit drops to $3,750 after Jan. 1, 2019.

Tesla Inc chief executive Elon Musk said the electric car company will reimburse customers if delays to car deliveries cause them to miss out on a significant tax credit.

Under a major tax overhaul passed by the Republican-controlled U.S. Congress late last year, incentives in the way of tax credits that lower the cost of electric vehicles are available for the first 200,000 such vehicles sold by an automaker. The tax credit is then reduced by 50 percent every six months until it phases out.

See the rest of the story at Business Insider

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