DETROIT – Ohio’s car dealer turned Senator-elect says Donald Trump’s agenda would upend U.S. automaker development of electric vehicles, eliminate tax credits for EV buyers and freeze fuel economy standards for at least a decade.
“Anybody who even has a understanding of how the automobile industry works in America would tell you that the secret sauce is the marketplace,” Moreno told the Free Press. Sales, he said, signal to automakers what consumers prefer. A second Donald Trump administration may also look to eliminate California’s ability to set its own strict emissions standards, which are higher than the rest of the country.
Ford’s EV division, called Ford Model e, lost $1.2 billion in pretax profits during the third quarter and is expected to“The United States government — if I have anything to do with it, I’m one of 100 people and President Trump obviously makes a decision on this as well — but my suspicion is that electric vehicle subsidies are gone,” Moreno told the Free Press. “So now there’s no subsidy. You buy an electric vehicle, the car stands on its own.