EV companies, battery makers urge Trump not to kill vehicle tax credits

WASHINGTON (Reuters) - A group representing major electric vehicle and battery manufacturers on Friday urged President-elect Donald Trump not to kill tax credits for electric vehicle sales and production, citing the impact on key states that voted for the Republican.

The Zero Emission Transportation Association, whose members include Rivian (NASDAQ:RIVN ) LG, Tesla (NASDAQ:TSLA ), Uber (NYSE:UBER ), Lucid (NASDAQ:LCID ) and Panasonic (OTC:PCRFY ), said production tax credits have driven enormous job in states like Ohio, Kentucky, Michigan, and Georgia, and warned killing those production and consume tax credits would undercut those investments and hurt American job growth. Reuters reported on Thursday the Trump transition team wants to kill the $7,500 consumer tax credit for electric-vehicle purchases, citing sources.

Source: Investing.com