Spoiler alert: EVs are struggling.
Will President-elect Donald Trump kill the electric vehicle market? Reuters reported on November 14 that Trump and his transition team are planning to put the kibosh on the Inflation Reduction Act’s $7,500 consumer tax credit for EV purchases. The newswire, citing two sources close to the situation, says this effort to eliminate the government subsidy will be part of a broader tax reform initiative. As the EV market continues to struggle – aside from Elon Musk’s Tesla Motors, of course – is it time to deliver the industry’s last rites?
Who Killed the Electric Vehicle?
Over the past year, there have been indicators that the electric vehicle market might be struggling despite the billions of dollars in federal and state subsidies. It comes down to one fact: Consumer demand is not…
