Former President Donald Trump has hinted at potentially ending the $7,500 tax credit for electric vehicle purchases if re-elected. He also expressed openness to appointing Elon Musk to a cabinet or advisory role. This news comes amidst a strengthening relationship between Trump and Musk, raising questions about the future of the EV industry and the potential impact on Tesla.
Former President Donald Trump has hinted at a potential Cabinet position for Tesla CEO Elon Musk, raising speculation about a possible shift in US electric vehicle policy. The news comes as Trump also suggests eliminating the electric vehicle tax credit, potentially impacting the future of the EV industry.
The federal government’s new EV tax credit, designed to attract foreign investment, has landed Honda in Ontario. However, experts argue that the credit is too narrow and demanding, unlikely to attract other investors or spur home-grown innovation. Despite the government’s enthusiasm for clean growth, the EV credit fails to support a broad range of firms and investments.
