Donald Trump Plans To End EV Tax, Is Open To Consider Elon Musk As An Advisor

Republican presidential candidate Donald Trump mentioned on Monday that, if elected, he might end the $7,500 tax credit for electric vehicle purchases. He also expressed openness to considering Tesla CEO Elon Musk for a cabinet or advisory role.

During an interview with Reuters after a campaign event in York, Pennsylvania, Trump commented on the EV tax credit, saying, “Tax credits and tax incentives aren’t usually the best approach.”

When asked about involving Musk in his administration, Trump responded positively, calling Musk a “brilliant guy” and indicating he would consider it if Musk was willing.

Last month, Musk publicly supported Trump’s presidential bid. Tesla has not yet commented on the matter.

If Trump were to become president, he could take steps to reverse the Treasury Department’s rules that currently make it easier for automakers to benefit from the $7,500 credit or push Congress to remove it altogether. As president, Trump previously attempted to repeal the EV tax credit, which was later expanded by President Joe Biden in 2022.

“I’m not making any final decisions on the EV tax credit,” Trump said. “I like electric cars, but I also appreciate gasoline-powered cars, hybrids, and whatever new technologies come along.”

He also mentioned that he would revoke the Biden administration’s rules requiring automakers to produce more EVs and plug-in hybrids to meet stricter emissions standards. Trump believes there will be a “much smaller market” for EVs due to cost and battery range issues.

Trump also stated that he would take measures to discourage U.S. automakers from exporting vehicles produced in Mexico by imposing new tariffs and would prevent Chinese automakers from building new plants in Mexico for vehicles intended for the U.S. market. He made similar statements during his presidency.

“If you put tariffs on those cars, they’ll be made here,” Trump said. “It’s straightforward. If you tell Mexico, ‘you’re taking our car industry,’ which they are, things will change.”

However, Trump is open to Chinese and other automakers building vehicles in the U.S. “We will offer incentives, and if China and other countries want to sell cars here, they’ll need to build plants here and employ our workers,” Trump said. “We will make our own cars. I want us to make our own cars.”

In a separate discussion, Trump criticized Google’s parent company, Alphabet, but didn’t specify whether the tech giant should be broken up following a recent court ruling that labeled Google an illegal monopoly.

“They’re like the Wild West,” Trump said of Google, without detailing what penalties he believes the company should face. “They’re going to have to pay a significant price.”

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Trump has previously stated that he would not ban the short video app TikTok, despite a law passed in April that sets a deadline of January 19, 2025, for the Chinese owner, ByteDance, to sell TikTok’s U.S. assets. When asked if he would accept continued Chinese ownership of TikTok, Trump did not give a direct answer but suggested that ByteDance might sell.

“It’s tough to ban something like that because it involves free speech and other complex issues,” Trump said. “But TikTok has treated me well.”