"Electric vehicle sales are expected to hit a record in the US this year, but the Trump administration's gutting of EV subsidies has left analysts predicting that adoption will slow over the next few years. With the $7,500 tax credit for new, American-made electric vehicles ending on September 30, carmakers are bracing for impact. Tesla CEO Elon Musk warned investors in July that the EV giant could face "a few rough quarters" as it grapples with the end of incentives."
"After unveiling plans to cut $20 billion in EV investment and go all-in on hybrids in May, Honda said it would end production of the US-only Acura ZDX. A spokesperson for the Japanese automaker confirmed on September 24 that production of the electric crossover, which was built by General Motors at its plant in Tennessee, was being scrapped due to "market conditions.""
Electric vehicle sales are expected to reach a US record this year, but removal of federal EV subsidies is projected to slow adoption in coming years. The $7,500 tax credit for new, American-made EVs ends on September 30, prompting automakers to prepare for decreased incentives. Tesla warned of potential near-term softness. Honda cut $20 billion in EV investment, shifted to hybrids, and canceled production of the US-only Acura ZDX. Jeep abandoned plans for an electrified Gladiator, citing changing customer preferences. Ram halted production of the REV 1500 electric pickup amid slowing North American demand.
Read at Business Insider
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