High Stakes Showdown Over EV Tax Credits

Major electric vehicle manufacturers urged President-elect Trump to maintain tax credits for electric vehicles to protect jobs in key states and compete globally. Removal could undermine investments, affecting job growth. Automakers stress the vital role of these credits in cementing U.S. leadership in the automotive industry.

A group representing prominent electric vehicle and battery manufacturers has appealed to President-elect Donald Trump to preserve tax credits crucial to the industry. The group warns that dismantling these financial incentives could risk jobs and investments in pivotal states that supported the Republican.

The Zero Emission Transportation Association, which includes major players like Rivian, LG, Tesla, Uber, Lucid, and Panasonic, emphasized the significant role these credits play in economic growth and job creation. Key states like Ohio, Kentucky, Michigan, and Georgia have benefitted immensely from them.

Executive Director Albert Gore highlighted the necessity of these credits to maintain competitiveness against global powers like China. Despite some automakers, including Tesla, supporting the end of subsidies, the larger consensus stresses these incentives as essential for sustaining U.S. auto manufacturing leadership.

(With inputs from agencies.)