Trump repeals electric car mandate, Elon Musk agrees!
The incoming Trump administration has pledged to end electric vehicle tax credits for automakers. And before you say Elon Musk and Tesla wouldn't like this, Elon actually supports ending the tax credit. The EV tax credit could have a serious impact on the U.S. electric vehicle transition that has stalled for all brands except Tesla.[embed]https://www.youtube.com/watch?v=CIKe55o_vOg[/embed]The electric vehicle tax credit is up to $7,500 for a leased new or U.S.-made vehicle. For used electric vehicles, the credit is up to $4,000. The move is intended to encourage a broad transition from internal combustion engines to electric powertrains by lowering the net retail price of electric vehicles for U.S. consumers. I liken it to the "cash for clunkers" program, which only really helps the rich, not the average driver.The 2022 inflation reduction bill signed by President Joe Biden focuses on energy and climate issues, introducing tax credits limited to vehicles that meet various technical requirements, including assembly location and material procurement. It…
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