Trump announces he will go after electric car mandate — what does this mean for Musk’s Tesla?

Throughout his presidential campaign, Donald Trump has relentlessly bashed Biden’s electric vehicle mandate, calling it ‘outlandish’ and ‘cruel.’

With Trump as the new president-elect, what could that mean for his close friend Musk’s famous Tesla company?

Trump has said that he is strongly considering getting rid of the $7,500 EV tax credit put in place by the Biden administration during his time as president.

This could push consumers to choose to buy a gas-powered car over an electric vehicle. Most believe this will remove all big auto corporations’ incentive to keep constructing electric vehicles.

So, with the removal of the EV tax credit, Elon Musk’s Tesla company might end up thriving more than ever.