The EV tax credit is gone - now the hard part begins
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The EV tax credit is gone - now the hard part begins
"In its latest form, the tax credit offered a $7,500 discount on eligible, domestic-made electric cars. As you'll hear Andy explain, this was designed to accomplish a lot of different things all at once: prop up the United States' EV market, fight climate change, and keep pace with China, which has become the global leader in affordable EVs. But the second Trump administration has not been kind to the renewable energy movement,"
"Now the EV tax credit has expired, and it's not coming back anytime soon. So where does that leave the auto industry? And what happens to the traditional American carmakers that have been investing heavily in domestic production to electrify their lineups? As you'll hear Andy lay out, there's a tough road ahead. EVs are expensive to make and expensive to buy. The supply chain they rely on is intertwined with China, and now subject to tariffs and an escalating trade war."
The federal EV tax credit expired at the end of September, removing a $7,500 discount for eligible, domestic-made electric cars. The credit aimed to prop up the United States' EV market, reduce emissions, and help domestic manufacturers compete with China’s lead in affordable electric vehicles. The Trump administration has been hostile to renewable energy, framing EVs as political symbols and dismissing climate concerns. With the credit gone and unlikely to return soon, automakers that invested in domestic electrification confront high production costs, pricey consumer prices, China-intertwined supply chains subject to tariffs and an escalating trade war, and highly price-sensitive buyers.
Read at The Verge
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