Trump Could End EV Tax Credit

During a campaign event in York, Pennsylvania, Republican presidential candidate Donald Trump stated that if elected, he would consider eliminating the $7,500 tax credit for electric vehicle (EV) purchases.

According to Reuters, Trump expressed skepticism about tax credits and incentives, suggesting that they are not generally beneficial. He also indicated that he might reverse Treasury Department rules that have made it easier for automakers to utilize the EV tax credit. Although he did not make a definitive decision on the matter, Trump acknowledged being a fan of electric cars while also supporting gasoline-powered vehicles and hybrids.

In addition to his views on EVs, Trump mentioned that he would be open to appointing Tesla CEO Elon Musk to a cabinet or advisory role if Musk were willing. Trump praised Musk as a "brilliant guy" and expressed admiration for his intelligence. Musk, who recently endorsed Trump in the U.S. presidential race, has not yet responded to the comments.

Trump also reiterated his stance on trade and automotive production, saying that he would take steps to discourage the export of vehicles produced in Mexico by U.S. automakers. He suggested that imposing tariffs on these vehicles would encourage manufacturers to produce them domestically. He also expressed his intention to prevent Chinese automakers from building plants in Mexico for the U.S. market, while remaining open to foreign automakers building vehicles in the U.S. with incentives to hire American workers.

This article was co-written using AI and was then heavily edited and optimized by our editorial team.

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