Trump announces he will go after electric car mandate — What does this mean for Musk's Tesla?Source The Independent
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00:00Throughout his presidential campaign, Donald Trump has relentlessly bashed Biden's electric vehicle mandate, calling it
00:06outlandish and cruel.
00:08These people are allowing our country to do these electric vehicles that very few people want.
00:15With Trump as the new president-elect, what could that mean for his close friend Musk's famous Tesla company?
00:21Trump has said that he is strongly considering getting rid of the $7,500 EV tax credit put in place by the Biden
00:28administration, making electric cars less affordable for the average consumer, likely boosting sales in gas-powered cars.
00:35This is good news for the big three automakers, Ford, General Motors and Stellantis.
00:41Their boost in sales would make the need to invest in building electric vehicles non-existent, taking out the competition for
00:47Elon Musk's expensive Teslas.
00:49Further, it would set aside other government efforts, such as Trump's proposed tariffs, to finance the construction of electric
00:56vehicles for Musk's company alone, making his EVs even more expensive.