UK Commits $84 Million To Charging Infrastructure, Plans $944 Million Subsidy Package—Tesla May Be Left Out

The UK government has announced it will invest over £63M ($84M) to boost EV charging infrastructure all over the country to encourage EV adoption.

What Happened: The UK's Secretary of State for Transport, Heidi Alexander, shared that she wanted to make switching to EVs more affordable in the UK and announced additional funding to build charging infrastructure, The Guardian reported on Sunday.

The report also suggested that the government is working on a £700M ($944M) subsidy package that would help make electric cars more affordable in the UK, though no official announcement has been made yet.

"We do need to make it easier and cheaper for people to buy an electric vehicle. So today we're announcing really big investment, £63M in charging infrastructure across the country,"

However, the government subsidies may not apply to EVs from manufacturers of premium or luxury vehicles like Tesla Inc. TSLA or Jaguar Land Rover, the report suggests.

Why It Matters: The news comes in as Tesla sales have experienced an uptick in the UK, with the company recording a 12% YoY surge, selling 7,189 units during June.

However, Tesla sales have declined significantly across multiple markets amid company CEO Elon Musk's ongoing feud with President Donald Trump over the latter's Big Beautiful Bill that repeals the $7,500 EV credit, while also potentially affecting the sales of ZEV credits.

Elsewhere, Musk has shared a teaser on social media platform X, promising an "epic" demo at the end of the year by Tesla, igniting speculation about the Optimus line of robots as well as the Cybercab.

Tesla offers satisfactory Momentum and Quality while scoring well on the Growth metric, but offering poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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