What Killing Tax Credits Means for the Electric Vehicle Market

The Trump administration’s plan to scrap federal incentives for electric vehicles will be a major speed bump for battery-powered transportation in the US, but not a brick wall, according to forecasts.

On Thursday, Republicans in the US House sent a bill to President Donald Trump’s desk that kills tax credits of up to $7,500 for EV customers that were part of the 2022 Inflation Reduction Act.

The White House has said former President Joe Biden’s initiative “promised much but delivered nothing.” However, the tax credits helped fuel an EV market far more robust and affordable than drivers enjoyed before the rebates kicked ...