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According to a new Reuters report, President-elect Donald Trump is expected to eliminate the electric vehicle (EV) tax credit. His administration is also considering rolling back investments in EV infrastructure, including charging stations and battery development. AutoGuide Editorial Director Greg Migliore joins Wealth! to analyze these potential changes.
Migliore suggests that eliminating the EV tax credit could cause EV demand to "take a hit" as increased costs shift to consumers. He predicts this policy change might boost demand for hybrid and traditional gas-powered vehicles.
When asked about automakers best positioned to weather these potential changes, Migliore identifies General Motors (GM), Ford (F), Hyundai (HYMTF), Toyota (TM), and Honda (HMC). He points to their diverse vehicle lineups spanning both EVs and conventional gas-powered options across various price points.
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This post was written by Angel Smith