Tesla stands to benefit from any removal of consumer tax credits on electric vehicle purchases.
AdvertisementElon Musk supports a Trump plan to end tax credits of up to $7,500 for electric vehicle purchases.
On Thursday, Reuters reported that Trump plans to end the EV tax credit, with support from Tesla representatives.
In October, the Alliance for Automotive Innovation, an industry group representing Ford, GM, Honda, Toyota, and others, urged Congress to keep the tax credits.
While Musk supports cutting the EV tax credit, reports of its potential demise appear to have spooked investors.
Persons:
Tesla, Elon Musk, EVs, —, Elon, Musk, Trump, Kelley, Dan Ives, Joe Biden's, It's, Vaibhav Taneja, Benjamin Zhang
Organizations:
Service, US, Reuters, Ford, Tesla, Republican, BMW, Honda, Hyundai, Alliance for Automotive Innovation, GM, Toyota, Politico
Locations:
Detroit, Mexico