Why Wasn't Tesla Invited to President Biden's EV Event?

Last week, President Joe Biden invited the Detroit automakers -- Ford Motor Company (NYSE: F), General Motors (NYSE: GM), and Stellantis (NYSE: STLA), which owns Chrysler -- and the United Auto Workers labor union to the White House for an announcement: The Biden administration has agreed to support measures to speed the adoption of electric vehicles (EVs) in the United States, with a goal (shared by the automakers and the UAW) of having EVs make up 40% to 50% of new vehicles sold in the U.S. by 2030.

But many observers had one big question: Why wasn't the fourth-biggest U.S. automaker, EV pioneer Tesla (NASDAQ: TSLA), invited to the party? In this Motley Fool Live video, recorded on Aug. 5, Industry Focus host Nick Sciple and Motley Fool senior auto specialist John Rosevear debated that question and came to the likely answer, one that was subsequently confirmed by the White House.

A transcript is below the video.

Source Fool.com