If federal tax credits for electric vehicles are abolished, EV sales are likely to decline, contradicting the auto industry's significant investments in electric vehicle technology.
The auto industry has invested over $160 billion since 2021 in the shift to electric vehicles, making it unlikely they would backtrack regardless of federal tax incentives.
Automakers face a challenging environment as the anticipated growth of EV adoption has slowed, leading to production adjustments and deferred construction of battery factories.
Ending federal tax credits for EVs could significantly impact sales by increasing monthly payments, thereby distancing electric vehicles from being financially accessible to consumers.
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