特朗普过渡团队发言人卡罗琳·莱维特(Karoline Leavitt)表示：“美国人民以压倒性优势再次选举特朗普总统，赋予他履行竞选承诺的权力，他会兑现这一承诺。”According to Reuters, President-elect Donald Trump plans to cancel the $7,500 consumer tax credit for purchasing electric vehicles, and following this news, stock prices of several auto manufacturers in the usa fell.
Reuters cited sources saying that Trump's transition team is discussing terminating this tax credit as part of a larger tax reform. It is reported that some representatives from Tesla also support the elimination of this subsidy policy.
This subsidy cancellation plan is a challenge to President Biden's climate legislation, the Inflation Reduction Act, which aims to promote the adoption of electric vehicles. However, due to the high prices of electric vehicles and the inadequate charging infrastructure, the promotion of electric vehicles in the usa has not been smooth. Trump has stated that he will quickly reverse Biden's electric vehicle policies after taking office.
Trump's transition team spokesperson Karoline Leavitt stated, "The american people overwhelmingly elected Trump president again, giving him the power to fulfill his campaign promises, and he will deliver on that promise."
As of the time of writing, among major electric vehicle manufacturers, Rivian Automotive Inc. was hit the hardest, with its stock price dropping as much as 12.05% during New York trading hours. Tesla's stock price also fell to an intraday low after the announcement, down 5.41%. General Motors initially fell but later rebounded by 0.16%, while Ford's stock price declined by 0.54%.
(Source: Google)
(Source: Google)
Although Tesla is the leader in the usa electric auto market, its CEO Elon Musk stated that the company has the capability to cope with the potential cancellation of this incentive. Musk has become a member of Trump's inner circle, responsible for helping the new administration cut spending.
If Trump wishes to abolish this policy, he needs congressional approval. The bill underwent partisan voting when it was passed in August 2022. Reuters points out that Trump's team has confirmed that some of the provisions are difficult to cancel, as some funding has already been allocated, including funding provided to Republican-led states.
