President-elect Donald Trump will reportedly cut the EV tax credit when he takes office in January, but contrary to popular belief, Wedbush analysts say the move could actually benefit Trump’s “first buddy,

The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of President-elect Donald Trump’s most prominent backers.

When former President Donald Trump campaigned on a promise to end the $7,500 electric vehicle tax credit, many people pointed to his newfound close ties with Tesla CEO Elon Musk as proof that he wouldn't really act to deliberately harm America's nascent EV sector.

Shares of US automakers fell after Reuters reported President-elect Donald Trump plans to eliminate the $7,500 consumer tax credit for electric-vehicle purchases.

Key Takeaways Shares of Tesla and other electric vehicle makers fell Thursday after a report President-elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.Tesla told the Trump team that it supports ending the subsidy,

Electric vehicle stocks are falling Thursday after a report detailed the incoming Trump administration’s plans to axe a tax credit for consumers buying cleaner cars.

Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, a report said.

A new report suggests that President Trump will attempt to scrap the $7,500 EV tax credit when he returns to the White House next year. Tesla is said to back the move, with its CEO, Elon Musk, being a huge Trump supporter.