Biden Administration Reportedly Approached Tesla On Its Day 1 In Office: What Was It About?

Tesla, Inc. TSLA was reportedly approached by President Joe Biden's administration to help with drafting a new renewable energy policy.

The Biden administration, represented by Environmental Protection Agency staffer Dallas Burkholder, approached Tesla lobbyist Rohan Patel on its first day in office on how to include electric vehicles into renewable fuel subsidies, Reuters reported, citing internal emails it accessed.

The two parties had reportedly scheduled a meeting for a week later.

The government at that time was bent on expanding the scope of RFS to include EVs and using it as a catalyst to improve EV adoption as part of its climate change initiative.

Since the first meeting, the EPA has had additional meetings with Tesla on this topic, according to Reuters.

Related Link: Elon Musk On Tesla's Long-Term Growth: Why It Hasn't Even Reached 0.1% Of Future Potential

Tesla is reportedly seeking changes to the RFS, which will enable the company to avail of renewable fuel credits based on kilowatt hours driven or similar metrics, the report said, citing people familiar with the plan. The company has also discussed partnerships with bio-gas producers to give it leverage from whatever be the outcome of the new rule, it added.

Other industry players which have been demanding their share in the RFS pie are charging infrastructure companies and biogas fuel companies, Reuters noted.

EPA's overture is at odds with the Biden administration's subsequent stance of ignoring Tesla, while at the same upholding General Motor Corporation GM — and to some extent Ford Motor Company F — as leaders in the EV race.

Price Action: Tesla closed Wednesday's session down 0.40% at $708.26, according to Benzinga Pro data.