Donald Trump has pledged to abandon the Biden administration's EV incentives, which could significantly hamper the growth of the electric vehicle market in the US.
Despite his negative rhetoric about electric vehicles, Trump's close relationship with Elon Musk suggests he may be influenced by the EV industry's leading figure.
The anticipated elimination of EV tax credits could drive up costs for consumers and reduce overall sales of electric vehicles, countering current growth trends.
Research indicates that the EV tax credits have saved consumers $1 billion in 2024 alone, highlighting their positive impact on the market.
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