Denmark’s Green Plan Could Raise Tesla Prices by Nearly a Third

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The Social Democrat government wants to see at least 500,000 electric cars on Denmark’s roads by 2030 to help reach the goal of cutting carbon emissions by 70% compared to 1990 levels.

The plan put forward by the government on Thursday includes a series of tax hikes on fossil fuels, trucks and conventional vehicles. But in the name of equality, taxes are also set to rise for the more expensive electric cars.

According to the government’s own calculations, the price of a premium Model S would rise from 830,000 kroner ($130,000) to nearly 1.1 million kroner, an increase of 31.4%.