Electric Vehicle Manufacturers Urge Trump to Maintain Tax Credits

Date: WASHINGTON (Reuters) –
A group representing major electric vehicle and battery manufacturers has urged President-elect Donald Trump not to eliminate tax credits for electric vehicle sales and production. They highlight the significance of these credits for key states that supported the Republican candidate.

The Zero Emission Transportation Association, which includes members like Rivian (NASDAQ:RIVN), LG, Tesla (NASDAQ:TSLA), Uber (NYSE:UBER), Lucid (NASDAQ:LCID), and Panasonic (OTC:PCRFY), stated that production tax credits have created numerous jobs in states such as Ohio, Kentucky, Michigan, and Georgia. The association warned that eliminating these production and consumption tax credits would jeopardize investments and hinder American job growth.

According to a report by Reuters, the Trump transition team is considering killing the $7,500 consumer tax credit for electric vehicle purchases, according to sources.