By TOM KRISHER DETROIT (AP) — If President-elect Donald Trump makes good on his threat to kill federal tax credits for electric vehicle purchases, it’s likely that fewer buyers will choose EVs. Yet tax credits or not, auto companies show no intention of retreating from a steady transition away from gas-burning cars and trucks, especially given the enormous investment they have already made: Since 2021, the industry has spent at least $160 billion on planning, designing and building electric vehicles, according to the Center for Auto Research. In campaigning for the presidency, Trump condemned the federal tax for EV buyers — up to $7,500 per vehicle — as part of a “green new scam” that would devastate the auto industry.

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BING NEWS:
  • Gavin Newsom Prepared to Challenge Trump on Electric Vehicle Tax Credits
    Newsom proposes California offer state tax rebates for electric vehicle purchases should Donald Trump eliminate the federal EV tax credit.
    11/25/2024 - 5:59 am | View Link
  • Automakers plead with Trump: don’t kill the EV tax credit
    The auto industry is sending an urgent message to President-elect Donald Trump: spare the $7,500 electric vehicle tax credit. In a November 14th letter to Trump and his transition team, the auto industry’s main lobbying group urges the new administration to preserve incentives for EV buyers and manufacturers that were enacted under President Joe Biden,
    11/21/2024 - 12:15 pm | View Link
  • More

 

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