Reported 9 days ago
President-elect Donald Trump's transition team is planning to terminate the $7,500 electric vehicle consumer tax credit, potentially hindering the U.S. electric vehicle market amid mixed support from auto industry leaders. While Tesla's representatives favor the change, fearing less impact on Tesla than on competitors like GM and Ford, industry advocates claim the credit is crucial for U.S. automotive leadership and job preservation. The transition team, led by pro-oil figures, sees the removal of the credit as an easier target for legislative action, amidst a broader strategy to roll back Biden's clean-energy initiatives.
Source: YAHOO