Elon Musk's decision to support Trump's campaign raises concerns about Tesla's competitive stance in the EV market, as tax credits are crucial for other automakers.
Analysts believe that without EV tax credits, Tesla's competitive advantage will widen due to its established brand and strong customer loyalty compared to other car manufacturers.
Many legacy automakers like Ford are struggling to profit from EVs, slowing down their rollout plans, which could jeopardize their futures in the electric vehicle market.
The elimination of EV tax credits would predominantly harm non-Tesla electric vehicles that rely heavily on these incentives to attract consumers, unlike Tesla.
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