Elon Musk's influence over the automotive industry raises concerns as US automakers, having invested nearly $146 billion in electric vehicles, fear potential rollbacks of emissions regulations under a new administration. With Trump’s past grievances against the industry, companies are lobbying to maintain stability in emissions standards to protect jobs and investments. The shift towards electric vehicles is seen as inevitable, but uncertainty looms over the future of traditional car sales and compliance with evolving regulations.
Rohan Patel, a former Tesla executive, highlights the contrasting support for electric vehicles (EVs) under Trump and Biden. While Trump’s administration favored foreign-made vehicles and neglected tax credits for early EV leaders like Tesla, Biden's policies revived substantial incentives and support for domestic manufacturing. The NEVI program, with $5 billion allocated over five years, aims to enhance EV infrastructure, while recent reforms to the 30C tax credit significantly boost investments in charging stations.
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