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Trump Revokes Biden EV Targets, Freezes Funds for Nationwide Charging Network
Trump is also 'considering the elimination' of the $7,500 EV tax credit, though that one is more difficult to unravel since it's part of the Inflation Reduction Act and runs through 2032.
Transportation is the US' largest source of greenhouse gas emissions, and a typical passenger vehicle emits about 4.6 metric tons of carbon dioxide per year, the EPA says, contributing to rising global temperatures. In an effort to "promote true consumer choice," Trump is "considering the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies and effectively mandate their purchase by individuals, private businesses, and government entities alike by rendering other types of vehicles unaffordable," he said Monday. "The electric vehicle market is rapidly evolving as Chinese competitors leverage advantaged cost structures," Ford said in August when announcing its scaled-back EV ambitions.
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