So far, there’s no evidence the Trump administration plans to extend the federal tax credit incentive for the purchase of electric and plug-in vehicles.
Designed to kick-start the fledgling technology, the credits — totaling up to $7,500 per vehicle — will run out after automakers finish selling their first 200,000 eligible vehicles — a date that could occur as early as next year for some companies. This means a segment still as embryonic as the infrastructure meant to serve it could soon bite the dust.
A recent report from Edmunds predicts what will happen if the credits die, using a cancelled state credit as a crystal ball. Despite the hype around EVs, those incentives are an intravenous bag keeping the patient alive.
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