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Trump announces he will go after electric car mandate — what does this mean for Musk’s Tesla?
The Independent
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11/14/2024
Trump announces he will go after electric car mandate — What does this mean for Musk's Tesla?Source The Independent
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News
Transcript
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00:00
Throughout his presidential campaign, Donald Trump has relentlessly bashed Biden's electric vehicle mandate, calling it
00:06
outlandish and cruel.
00:08
These people are allowing our country to do these electric vehicles that very few people want.
00:15
With Trump as the new president-elect, what could that mean for his close friend Musk's famous Tesla company?
00:21
Trump has said that he is strongly considering getting rid of the $7,500 EV tax credit put in place by the Biden
00:28
administration, making electric cars less affordable for the average consumer, likely boosting sales in gas-powered cars.
00:35
This is good news for the big three automakers, Ford, General Motors and Stellantis.
00:41
Their boost in sales would make the need to invest in building electric vehicles non-existent, taking out the competition for
00:47
Elon Musk's expensive Teslas.
00:49
Further, it would set aside other government efforts, such as Trump's proposed tariffs, to finance the construction of electric
00:56
vehicles for Musk's company alone, making his EVs even more expensive.
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