As Ford Authority reported last month, incoming U.S. President Donald Trump’s transition team is allegedly mulling the idea of killing off the existing $7,500 federal EV tax credit – something that Trump himself alluded to multiple times during his campaign. The elimination of this EV tax credit could have a big impact on all-electric vehicle sales, which have faced softer-than-expected demand as of late already, also having an influence on the strategic direction automakers embark on moving forward. Recently, Ford CEO Jim Farley touched on this subject while speaking with reporters.
When asked whether or not Elon Musk – Tesla CEO and a top adviser to Trump – could potentially save the federal EV tax credit, Farley responded by saying “I don’t know how to handicap that,” he said. “We’re just focusing on us,” according to the Detroit Free Press. A couple of weeks ago, John Lawler, Ford’s vice chair and chief financial officer, also noted that even if Trump ultimately kills off the EV tax credit, the automaker’s strategy won’t change – as it’s currently focused on offering customers an array of powertrain choices, regardless.
Farley has maintained essentially the same tone, previously stating that Trump’s many reported policy changes pertaining to the automotive industry won’t have too big of an impact on Ford itself. The CEO pointed to the fact that Ford has existed for 120 years now under many presidents, and noted that he isn’t “panicked” about any of these proposals, adding that he believes FoMoCo is “well positioned” to handle change.
Along with eliminating the federal EV tax credit, recent reports have indicated that Trump may also roll back current President Joe Biden’s fuel economy standards, cancel a contract between the government and Oshkosh Defense to provide USPS with all-electric delivery vehicles, and end a requirement for automakers to report crash data pertaining to the use of partially-autonomous and advanced driver assist systems.
Comments
They need to axe it. Then, maybe, Ford and GM can stop the obsession with EVs (and in Ford’s case it also needs to get over the horsepower one too). But withdrawal might be scary.
Get rid of them. We are funding these credits then paying again. Just focus on awesome reliable normal much less expensive ice vehicles.
All this JUNK is Outta Control. And How about FARLEY Get something done with all the QUALITY ISSUES that Continue to Plague the BLUE / BLACK OVAL!!! Far as this EV TAX Thing goes. Your FIRED…… NOW GET OUTTA HERE!!!!
There are so many naysayers here. Elon Musk cannot have the tax credit removed, because his Tesla customers are the largest group with this benefit. But Trump can cut oit the foreign brands.
Any credit should go to US built vehicles only