2 weeks Ago
Over the last four years, President Joe Biden has pushed hard to support cleaner, greener solutions for the planet. President-elect Donald Trump has criticized many of the policies now in place, including pollution rules that have paved the way for more electric vehicles. From Lordstown, Ohio, to Detroit, Michigan, America’s electric vehicle boom is underway, with 3.
3 million EVs on the road and many more under construction, including in Ellabell, Georgia. “The largest economic development project in state history with the Hyundai Motor plant continues to make incredible progress. It’s slated to open operations later this year and will ultimately employ over 8,000 Georgians,” Georgia Gov.
Brian Kemp said. However, questions loom about what the road ahead may bring under Trump. “I will end the electric vehicle mandate on day one,” Trump said during his Republican National Convention speech.
The so-called EV mandate refers to a rule President Biden pushed forward in March, setting new national pollution standards, not determining what kind of car you should buy. “There is no mandate. You can purchase a gas car if you want to pay gas prices at the pump but if you don’t, you can purchase an EV with our help,” Transportation Secretary Pete Buttigieg said.
That help comes in the form of up to $7,500 in tax credits expected to go away under Trump, which experts say will hurt auto manufacturers who make those vehicles the most. “When you give a $7,500 credit, the vehicle manufacturers raise the price by $7,500. So the consumer sort of is net sum some game,” Joe McCabe, president and CEO of AutoForecast Solutions, said.
One major consideration is whether EV cars made in China, where many are built with robots at a rapid rate, will become available in this country. “The Chinese don’t care about the tariff because their vehicle was already 50% less than our current EVs anyway. You tariff 100% and now it’s a very competitive product,” McCabe said.
One other factor is the role of Elon Musk. As the head of Tesla, he certainly has an interest in more electric vehicles being sold and is one of Trump’s closest confidants these days. He’ll likely figure out a way to make at least his company, Tesla, continue to thrive.
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