President-elect Donald Trump's incoming administration has been clear about how they stand on EV subsidies: get rid of 'em. That means ditching the $7,500 tax credit, production credits for critical factories, and any federal mandates, existing or not. Automakers, battery manufacturers, and key component suppliers are gearing up to ensure that the transition continues at full steam, or at least as closely as it can given the circumstances.
Automakers, battery manufacturers, and key component suppliers are gearing up to ensure that the transition continues at full steam, or at least as closely as it can given the circumstances. The industry isn't going down without a fight while believing the EV revolution is here to stay.
...the question is just how effectively, efficiently, and quickly the market is penetrated by battery-powered cars. The industry needs that money flowing to fund this transition, and now it's starting to fight back.
One of Trump's campaign promises was to repeal the Inflation Reduction Act on his first day in office, as well as cut any rules that force automakers to meet an electrified sales goal of two-thirds of their fleet by 2032.
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