Elon Musk, Tesla’s CEO, supporting a future where cars run on electricity instead of fossil fuels has been a world-leading figure in the electric vehicle (EV) industry.
However, recent developments and the current election with Mr Trump winning as the next President of America have raised questions about the direction of the EV movement in the United States.
President-elect Donald Trump has announced plans to terminate the $7,500 federal tax credit for EV purchases. This credit has made electric cars more affordable for many Americans.
While Tesla has established itself as a profitable leader in the EV market, traditional automakers like General Motors and Ford have depended on government incentives to promote their electric models.
Without the tax credit, these companies might find it harder to compete with giants like Tesla, which could potentially slow the overall adoption of electric vehicles.
Elon Musk supports the removal of this tax credit as he believes that Tesla can flourish without it and eliminating the credit would challenge other automakers to innovate and improve their EV offerings.
Despite Trump’s repeated attacks on clean energy and EVs including vanishing all the tax incentives and subsidies Musk openly supports his election campaign.
However, critics argue that eliminating the incentive for consumers to choose electric over fossil fuel-powered cars could hamper the broader EV revolution that Musk once advocated.
Additionally, Trump’s administration plans to ease regulations on self-driving cars, which could be beneficial for Tesla’s technological advancement in autonomous vehicle technology.
This regulation might support the development and placement of self-driving Teslas on American roads.
In summary, while Tesla remains the dominant name in the EV market, the effects of policy changes under the Trump administration and Musk’s support could change the perception of electric vehicles in the U.S.
The future of EV adoption may depend on how these factors influence consumer choices and the strategies of traditional automakers.
Source:
https://www.deccanherald.com/opinion/musk-is-short-circuiting-the-ev-revolution-he-sparked-3282225
https://www.fastcompany.com/91226639/what-trump-means-for-tesla
