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Gavin Newsom Slams Trump For Letting China Dominate EVs — Criticizes CAFE Rollback Which Will 'Poison' Air: 'We'll Fight Tooth And Nail…' - Tesla (NASDAQ:TSLA)
Benzinga· 2025-12-04 05:53
Core Viewpoint - California Governor Gavin Newsom criticizes the Trump administration for hindering U.S. progress in the electric vehicle (EV) and clean energy sectors, allowing China to take the lead in these industries [1][5]. Group 1: Electric Vehicles Market - Newsom highlights that 70% of the EV market is dominated by Chinese companies, with Chinese automakers producing three times the number of vehicles compared to the U.S. [3] - The governor expresses frustration over the Trump administration's policies, which he believes have negatively impacted the transformation of the sector and consumer affordability [3][4]. Group 2: Clean Energy Sector - Newsom describes the Trump administration's "reckless energy agenda" as a factor that has allowed China to establish a lead in the global clean energy race [5]. - Tesla reported a 44% growth in revenue from its energy storage business during its third-quarter earnings call, indicating growth potential in the U.S. clean energy sector despite broader challenges [5]. Group 3: Regulatory Environment - Newsom criticizes the rollback of Corporate Average Fuel Economy (CAFE) standards, arguing it leads to higher fuel costs for Americans and strengthens China's position in the auto industry [4]. - The governor also opposes plans for expanded offshore drilling in California, which he claims lacks support across political lines in the state [6]. Group 4: Vehicle Safety Regulations - Newsom condemns the Senate's Committee on Commerce, Science, and Transportation for challenging vehicle safety features, suggesting that such actions prioritize corporate interests over public safety [7][8]. - He sarcastically remarks on Republican priorities, implying that they are making it easier for accidents to occur by undermining safety regulations [8].