Donald Trump plans to eliminate electric vehicle subsidies if re-elected, arguing they distort the market, while European EV sales decline as government incentives fade.
Donald Trump will end EV subsidies of up to $7,500 per car if he is elected president in November. “Tax credits and tax incentives are not generally a very good thing,” the Republican candidate told Reuters in an interview. “I'm not making any final decisions on it,” he added. “I'm a big fan of electric cars, but I'm a fan of gasoline-propelled cars, and also hybrids and whatever else happens to come along.
Sweden also booked an EV sales decline and Switzerland also saw a double-digit sales decline. “Well-off and eco-conscious buyers are more or less tapped out, and the industry’s lack of affordable battery models is cutting mass-market consumers out of the market,” Bloomberg noted at the time.
Electric Vehicles EV Subsidies Tax Credits Biden Administration EV Sales Europe Germany Sweden China
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