From Bearded Tesla Guy.
Tesla continues to be one of the most successful car companies in the entire world. With the Model Y becoming the best selling car of any kind in the world, the Cybertruck becoming the best selling electric truck, Tesla continues to dominate and send shockwaves throughout the industry.
Back in November of 2021, the Bipartisan Infrastructure Law passed, and it included $7.5B for deploying chargers across the Country, $5B of which is dedicated to DC Fast Charging. in August of 2022, the Inflation Reduction Act of 2022 passed and became law, bringing a who slew of benefits aimed at electrification.
Tesla has been one of the most popular cars in America, and it is no surprise that the EV Tax Credits of up to $7,500 on a new EV and $4,000 on a used EV have been heavily represented by the Model Y, Model 3 and even the Model X.
Just this year these tax credits became point of sale credits, meaning you realize these savings at the time of purchase for qualified EV’s. In addition, there were also credits available for installing charging equipment in your own home.
Donald Trump ended up victorious in the 2024 election, and the voting was so overwhelming, the Senate and the House are both also Republican led. This means that whatever Republicans want to pass, they will have a reasonably easy time of getting things done.
The problem lies in the promises Trump made on the Campaign. Specifically, Trump continued to call out the so called "EV Mandate." Of course there is no such thing, but his posture is aimed at dismantling a number of the electrification priorities the previous administration put into place.
There are likely a few areas that are in risk of being affected by this so pressure to cancel the "EV Mandate." EV Tax credits of up to $7,500, funding for the public chargers being deployed, and the recently passed updated EPA rules, which require manufacturers to offer 56% EV and 13% Hybrid vehicles by 2032.
How Trump plans to attack these is yet to be seen, but we can look at how these programs work, and how they were implemented to get a better idea of how they may be dismantled once Trump is in office. Certainly Trump has the power of Executive Action to help him in his crusade, but there are limitations to his power as President.
Regardless of your feelings on the election, and your thoughts on these electrification initiatives, there is no question we are about to see some significant changes in funding for benefits and equipment, as well as changes to rules in fuel efficiency in the coming months.
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