, the Biden administration’s actions to boost domestic EV manufacturing may have already set the auto industry past the point of no return. Following Biden’s initiatives, automakers have already invested billions of dollars in transitioning to electric vehicles. If Trump were to scrap the initiative, major automakers fear they could be undercut by smaller manufacturers producing cheaper, internal combustion engine cars.
“In my view, we should end all government subsidies, including those for E.V.’s, oil and gas,” Musk said last week. “I think it would be devastating for our competitors and for Tesla slightly,” he reportedly said, according to theIndustry experts fear that Trump scrapping Biden’s EV initiative could be destructive for the auto industry, sowing doubt and confusion among car companies.