May end EV tax credit, open to naming Elon Musk as adviser: Donald Trump

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May end EV tax credit, open to naming Elon Musk as adviser: Donald Trump - Business Standard

Quick Summary:

Trump has previously said he would prevent short video app TikTok from being banned despite a law approved in April that sets a deadline of Jan.19, 2025, for Chinese owner ByteDance to divest TikTok's US assets.

If elected, Trump could take steps to reverse Treasury Department rules that have made it easier for automakers to take advantage of the $7,500 credit or could ask the US Congress to repeal it entirely.

He added that he would rescind the Biden administration rules that will prod automakers to build more EVs and plug-in hybrids to meet stricter emissions standards and said he sees a "much smaller market" for EVs because of cost and battery range issues.