Summary
The Trump transition team plans to dismantle key support for the US electric vehicle (EV) market by eliminating the $7,500 federal EV tax credit and diverting funds from EV charging stations to securing battery materials as a “national-defense issue.”
This marks a major shift from Biden’s policies, which prioritized rapid EV adoption and a domestic battery supply chain.
The plan includes imposing tariffs on battery parts and materials globally, with possible exemptions for allies.
These changes are expected to slow US EV growth, further widening the gap with Europe and China.
Have you seen Tesla stock lately? It’s way up. Elon Musk is worth over $400 billion these days largely because of Tesla.
Tesla’s value is about getting investors to buy into speculation and false promises, and has very little to do with their ability to sell cars.
Or design them. Or build them. Or repair them.