Elon Musk In A Trump Cabinet? Ex-President Calls Tesla CEO A 'Very Smart Guy' — Hints At Scrapping $7,500 EV Tax Credit
Portfolio Pulse from Benzinga Neuro
Former President Donald Trump hinted at ending the $7,500 EV tax credit if re-elected and expressed interest in appointing Tesla CEO Elon Musk to a cabinet role. This could impact Tesla and the EV industry significantly.
August 20, 2024 | 3:11 am
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Trump's potential elimination of the $7,500 EV tax credit could negatively impact Tesla's sales, as the credit makes EVs more affordable. However, Trump's praise for Musk and potential cabinet role could strengthen Tesla's political influence.
The $7,500 EV tax credit is a significant incentive for Tesla's customers, and its removal could reduce demand for Tesla vehicles. However, Trump's positive remarks about Musk and the possibility of Musk joining a Trump administration could enhance Tesla's political leverage, potentially offsetting some negative impacts.
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