California Governor Gavin Newsom says the state will offer electric vehicle (EV) rebates if President-elect Donald Trump's upcoming administration cuts EV tax credits on the federal level. Bloomberg reports that Tesla (TSLA) would be excluded from these rebates, a move that could be a dig at Tesla CEO Elon Musk, who is set to be part of Trump's Cabinet. Yahoo Finance's Autos Reporter Pras Subramanian joins Julie Hyman and Josh Lipton on Market Domination to break down the news.

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This post was written by Naomi Buchanan.