Tesla Investor Ross Gerber Says 'Super Sad' To See Federal EV Subsidies End: 'Credits Created...'

EVs electric vehicles

Investment Firm Gerber Kawasaki's co-founder Ross Gerber has lamented the end of the Federal EV Credit, which ceased after the September 30 deadline outlined by President Donald Trump.

EV Credits Work, Says Ross Gerber

"The end of the credits created an EV boom in California," Gerber said in a post on the social media platform X on Sunday. He added that EVs made up almost 30% of total vehicle sales in California. "These credits work and super sad to see them go…" Gerber said.

It’s worth noting that Gerber is an investor in Tesla Inc. (NASDAQ:TSLA) and once held bullish views on the company and its progress in the sector, but has since become a vocal critic of the EV giant and its CEO, Elon Musk. Earlier this year, Gerber had confirmed that his firm was lowering its stake in Tesla, but hasn’t completely exited its position due to undisclosed reasons.

The end of the credits created an EV boom in California. Almost 30% of all cars sold in California were EVs! These credits work and super sad to see them go… $tsla https://t.co/Wf94nLAYTq

— Ross Gerber (@GerberKawasaki) October 18, 2025

Norway's Incentive Rollback

The news comes as Norway joined the U.S. in rolling back on incentives offered on electric vehicles. The country announced a revised proposal to offer incentives on EVs priced under 300,000 Kroner (roughly $29,700) instead of the previous 500,000 Kroner (approximately $49,500) threshold.

The country is also a key market for Tesla, with the region defying the EV giant's European sales slump, with Tesla recording a 24% surge in the first seven months of 2025.

Texas Offers EV Incentives, Ford And GM Rescind Discounts

Meanwhile, Texas is offering incentives on EVs and alternative fuel vehicles in the state, with customers standing to benefit from up to $2,500 worth of incentives on EVs and up to $5,000 on Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) vehicles.

However, Ford Motor Co. (NYSE:F) and General Motors Co. (NYSE:GM) are both rescinding the proposed extensions to the Federal EV credit after the deadline. The automakers would reportedly have made down payments for units to dealers via the companies’ financial arms to qualify the units for the EV credit. Other companies like Stellantis NV (NYSE:STLA), however, are still offering EV incentives.

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