Trump's win could sharply raise the cost of electric vehicles. Here's why.

By CBS News | Nov 15, 2024 at 07:07 PM EST

President-elect Trump plans to eliminate the $7,500 tax credit for electric vehicle buyers. Tesla supports this move as it may benefit them. Other automakers fear losing profits. The EV tax credit has been crucial for boosting EV sales and creating jobs in the US.

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