TechFlow news — On November 15, according to Reuters, President-elect Trump's transition team plans to terminate the $7,500 electric vehicle tax credit policy. Tesla CEO Musk expressed support for this move and called for eliminating all government subsidies, including those for electric vehicles, gasoline-powered vehicles, and natural gas-powered vehicles.
According to sources familiar with the matter, the energy policy transition team led by oil tycoon Harold Hamm is discussing scrapping this signature measure from the Biden administration's Inflation Reduction Act. Tesla has communicated its support for ending subsidies to Trump’s transition advisory committee. Musk previously stated that eliminating subsidies might slightly affect Tesla's sales, but would deliver a "devastating" blow to its U.S. electric vehicle competitors.
