Trump’s Move to Cut Electric Vehicle Subsidies Sparks Backlash
President Trump’s latest executive order is shaking up the auto industry. On his first day in office, he announced plans to scrap tax credits for electric vehicle (EV) purchases, halt federal grants for charging stations, and cut subsidies for retooling factories to produce EVs and batteries. This move directly targets former President Biden’s climate-focused policies, which aimed to accelerate the shift away from gas-powered cars. But not everyone is on board. Automakers, who’ve poured billions into EV development, are pushing back. Even some Republicans and environmental groups are gearing up to fight the changes, with lawsuits likely on the horizon. Critics argue that the orders may not hold up legally, as they bypass Congress and standard rule-making processes. The stakes are high. U.S. carmakers risk falling behind global competitors if they scale back EV programs. In China, half of all car sales are already electric or plug-in hybrids, and companies like BYD are gaining ground worldwide. Meanwhile, American manufacturers could lose customers if they don’t keep pace with the EV revolution. Trump’s order, titled “Unleashing American Energy,” also halts federal funding for fast-charging infrastructure and eliminates tax credits that made EVs more affordable. These credits, worth up to $7,500 for new EVs and $4,000 for used ones, helped level the playing field between electric and gas-powered cars. As the battle over EV subsidies heats up, one thing is clear: the future of the auto industry—and the environment—hangs in the balance. Will Trump’s orders stick, or will they face enough pushback to keep the EV momentum alive? Only time will tell. ---
Trump’s Move to Cut Electric Vehicle Subsidies Sparks Backlash
https://www.99newz.com/posts/trump-ev-subsidies-backlash-1958
Author
99newz.com
Published at
2024-12-16
License
CC BY-NC-SA 4.0