Will money talk? How Removing Tax Credits Could Rock the EV Market

By Douglas McIntyre  •  November 22, 2024

Douglas McIntyre and David Callaway discuss the potential elimination of the $7,500 tax credit for electric vehicles under the upcoming Trump administration. They note that Tesla, which no longer qualifies for these subsidies, might benefit from their removal, as it would hurt competitors like Ford, GM and Rivian. They also explore the challenges of sourcing battery materials domestically and how the loss of these subsidies could slow EV adoption. Despite this, they agree EVs will remain part of the automotive landscape and regain momentum in the future.

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