Mexican Media Brands
White House Affirms Goal to Drop All EV Subsidies
The Trump administration aims to end all subsidies for electric vehicles, says Lawrence Kudlow, the president’s top economic adviser.
#hybrid #economics #regulations
Share
The Trump administration aims to end all subsidies for electric vehicles, says Lawrence Kudlow, the president’s top economic adviser.
Kudlow was explaining what President Donald Trump meant last week when he threatened to cut off subsidies to General Motors Co. Trump made the comment as a retaliatory threat after GM announced on Nov. 26 it plans to close five factories in the U.S.
The EV stimulus program launched during the Obama era has given buyers of all-electric cars a tax credit of $7,500 on the first 200,000 EVs sold by each manufacturer. The Wall Street Journal says it isn’t clear whether Trump has the authority to cancel the program, which was enacted by Congress.
EV makers have been lobbying Congress to extend the program because sales of such vehicles are beginning to gain traction.
RELATED CONTENT
-
Internal Combustion Engines’ Continued Domination (?)
According to a new research study by Deutsche Bank, “PCOT III: Revisiting the Outlook for Powertrain Technology” (that’s “Pricing the Car of Tomorrow”), to twist a phrase from Mark Twain, it seems that the reports of the internal combustion engine’s eminent death are greatly exaggerated.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.