Trump campaigned on ending Biden's "EV mandate," without spelling out specific targeted policies. The energy-focused transition team has determined some of Biden's clean-energy policies will be tough to end because they are popular and already funneling money to Republican-dominated states, the sources said.

Republicans have long opposed the $7,500 federal tax credit for electric vehicles contained in the Inflation Reduction Act. Now, it seems President-elect

US auto stocks and Asian battery makers fell after Reuters reported President-elect Donald Trump plans to eliminate a key consumer tax credit aimed at boosting electric-vehicle adoption.Most Read from BloombergUnder Trump,

Shares of Tesla and other electric vehicle makers fell Thursday after a report President-elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.

Some electric vehicles and plug-in hybrids are set to get less affordable from next year, it seems. As expected, the incoming Trump administration has set its sights on killing off the IRS clean vehicle tax credit, according to a report in Reuters this afternoon.

Tesla reportedly supports the Trump administration’s plan to kill the $7,500 federal tax credit for electric vehicles – something

Former and future President Donald Trump isn't in office yet, but his transition team is already taking aim at a cornerstone of American EV policy. If Trump gets his way, the longstanding $7,500 EV tax credit is getting axed, a new report indicated today based on statements from transition team sources.

Ending the dollar incentive to buy EVs could have grave implications for an already stalling US green transition. But it would probably benefit Elon Musk’s Tesla.

President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.