Trump's transition team aims to kill Biden admin's EV tax credit: Report

Q: How long will it take to read this news story?

The story "Trump&#039;s transition team aims to kill Biden admin&#039;s EV tax credit: Report" has 1408 words across 40 sentences, which will take approximately 6 - 12 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Trump&#039;s transition team aims to kill Biden admin&#039;s EV tax credit: Report" was covered 8 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 269 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #23602854</li><li>URL: https://beamstart.com/news/trumps-transition-team-aims-to-17316782583651</li></ul>

Business Standard Logo Business Standard 8h ago

Trump's transition team aims to kill Biden admin's EV tax credit: Report - Business Standard

Quick Summary:

Elon Musk, one of Trump's biggest backers and the world's richest person, said in July that killing the subsidy might slightly hurt Tesla sales but would be "devastating" to its U.S.

LG Energy Solution, a supplier for Tesla, General Motors and other automakers, fell as much as 10%, while Samsung SDI lost 9. Tesla has historically been the biggest beneficiary of consumer EV subsidies passed by Biden and previous administrations.

President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S.EV transition.