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- Former US President Donald Trump has announced his intention to remove all support for electric vehicles if he is re-elected in 2024.
- He took particular aim at Joe Biden’s Inflation Reduction Act, which offers up to $7,500 in tax credits for the purchase of an electric vehicle.
- What’s more, a slowdown in the US electric vehicle market could curb the innovation and economies of scale from which the entire sector currently benefits.
Former US President Donald Trump has announced his intention to remove all support for electric vehicles if he is re-elected in 2024. This position contrasts with Joe Biden’s current policy and raises questions about the future of the American automotive industry.
A resounding statement against electric vehicles
At the Republican convention in Milwaukee, Donald Trump made a resounding statement: “I will end the electric vehicle mandate on day one.”. He added that this measure would “save the American auto industry from total destruction and save consumers thousands of dollars per car”.
This rhetoric is in keeping with the former president’s usual pro-fossil fuel line and criticism of the Biden administration’s environmental policies.
Challenging current subsidies
Trump has sharply criticized electric vehicle subsidies, calling them an “incredible waste”. He took particular aim at Joe Biden’s Inflation Reduction Act, which offers up to $7,500 in tax credits for the purchase of an electric vehicle.
Republicans believe that this aid indirectly benefits China, the world’s leading producer of batteries for electric vehicles. However, the current law imposes strict conditions to avoid favoring foreign powers such as China.
A paradox: Elon Musk’s support
Despite these statements, Donald Trump receives financial support from Elon MuskCEO of Tesla, who has pledged more than $45 million a month to his campaign. This alliance may seem paradoxical, given that Tesla is one of the main beneficiaries of current support for electric vehicles.
This situation is explained in particular by Elon Musk’s ambitions in other fields, such as aerospace with SpaceX, and his personal preference for populist leaders.
Implications for the French automotive industry
If Donald Trump were to make good on his threats, it could have repercussions for the global automotive industry, including in France. French automakers present on the US market such as Renault through its alliance with Nissan, could see their electrification strategies called into question.
What’s more, a slowdown in the US electric vehicle market could curb the innovation and economies of scale from which the entire sector currently benefits.
In conclusion, Donald Trump’s statements raise many questions about the future of electric mobility in the United States and around the world. If they become reality, they could mark a major U-turn in US environmental policy, with potentially far-reaching consequences for the global automotive industry.
