EV automakers see billions in revenue disappear as US ends emission credits
8 days ago
- #EV Market
- #Policy Changes
- #Automotive Industry
- US ends emission credit market, impacting EV automakers like Tesla and Rivian.
- Trump's 'Big Beautiful Bill' removes federal tax credit for EV purchases and ends penalties for automakers with lower fuel economy.
- NHTSA stops issuing compliance letters for fuel economy violations, eliminating the CAFE credit market.
- Tesla, Rivian, and Lucid lose significant revenue from credit sales due to policy changes.
- Rivian reports a $100 million revenue loss and expects no CAFE credit revenue this year.
- ZETA petitions to resume compliance letters, but NHTSA states it will review CAFE standards first.
- Tesla, despite CEO's donations to Trump, is heavily affected, losing up to $2.5 billion in regulatory credit revenue.
- Policy uncertainty slows EV adoption in the US, with automakers delaying EV plans.
- Honda executives cite 'policies' as a major barrier to EV adoption in the US.
- The US risks falling behind in EV development as global markets advance.