Tesla supports killing $7,500 EV tax credit – going directly against its mission
Tesla reportedly supports the Trump administration’s plan to kill the $7,500 federal tax credit for electric vehicles – something in direct contradiction to Tesla’s original mission to accelerate the entire industry’s transition to electric transport.
Elon Musk, who has both financed and “fully endorsed” Donald Trump, has walked back much of his prior messaging around the need to accelerate the transport and energy sector’s transition to sustainability to address climate change.
In fact, during Trump’s prior administration, Musk was part of his “business council”, but he resigned after Trump pulled the US out of the Paris climate agreement.
Musk has now made it clear that he believes the “woke mind virus” is a bigger threat to humanity than climate change.
The CEO even supported Trump when he said he plans to remove the $7,500 tax credit for electric vehicles once he is back in power. That’s despite Tesla having lobbied for the credit. The incentive has been supporting Tesla’s sales in the US over the last few years.
Musk even laid out a scenario where removing the tax credit would hurt Tesla, but he believes it would hurt other automakers more – removing some of the competition. That’s a direct contradiction to what Musk has said many times in the past, which is to encourage the entire auto industry to go electric.
Even more recently, the CEO has complained that the main problem with EV adoption is the cost being to high – something that the tax credit is directly addressing in the US.
Tesla now supports removing the tax credit
These days, it’s hard to separate Musk and Tesla. Even though he is technically only CEO and minority shareholder, it is widely believed that he controls the board, and, therefore, he is able to do anything unchecked at Tesla.
This is actually what led to the judge’s decision in his CEO compensation case earlier this year.
Now, Musk’s position on the tax credit that Tesla lobbied hard for is also Tesla’s position.
According to a new Reuters report, Trump’s transition team is reportedly already strategizing about how to remove the EV tax credit:
President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.
The report states the energy transition team is led by Harold Hamm, an oil billionaire, but that they have consulted with Tesla, which is reportedly backing the move:
Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla – by far the nation’s largest EV seller – have told a Trump-transition committee they support ending the subsidy, said the two sources, who spoke on condition of anonymity.
The Trump administration would have to get Congress’s approval to remove the EV incentive.
Electrek’s Take
Like I wrote in my post about selling my Tesla position, the main reason I can’t be involved with Tesla anymore is that it is moving away from its mission.
There’s no better example than this.
Elon is willing to slow down the entire US EV industry as long as Tesla can come out on top in the next few years.
A source familiar with Tesla’s policy team suggested that it could be a negotiating strategy. Tesla may know it can’t save the tax credit so it is agreeing with Trump in order to have a bit more credibility on other matters, like the battery production credits that Tesla has been enjoying under Biden’s IRA.
But that could be a stretch, and in my opinion, it is not worth supporting something that will undoubtedly result in lower EV sales in the US, a country already way behind the rest of the world in EV adoption.
Also, it’s fair to note that this move should help Tesla in Q4 as the threat of removing the tax credit is resulted in surges in sales in the past to take advantage of it before it goes away.
It comes as Tesla is trying to achieve record sales in Q4 in order not to be down in deliveries for the entire year.
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Tennessee EV charging infrastructure developer PowerUp America just ordered a minimum of 100 new DC fast chargers in Q3 from Kempower, the Finnish company with a manufacturing hub in North Carolina.
PowerUp America, a relatively new player in the DC fast-charging station scene, is preparing to launch its first-ever DC fast-charging station in Kentucky by the end of the year.
These chargers are headed to NEVI-funded sites, which means they must all comply with the Build America, Buy America rules. PowerUp America posted on X/Twitter in October that the 400 kW chargers were already rolling off Kempower’s manufacturing line.
Here’s where they’re going, in addition to the fast charging station in Manchester, Kentucky: five new stations in Tennessee and two in Virginia. That Kentucky site features amenities such as pull-through stalls for easy towing, a full turning radius, a canopy for shade and weather protection, and on-site facilities (likely including snacks and restrooms – you know the drill).
Each charger will offer both CCS1 and NACS connectors and will support tap-to-pay or app-based payments.
Josh Turner, CEO of PowerUp America, said, “Every new site is more than just a charger; it’s an investment in local economies, workforce development, and the transportation future we’re building across the Southeast.”
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Hyundai’s at it again. The automaker is extending its IONIQ 5 lease offer, keeping one of the most affordable EV deals in the US alive at just $189 per month.
Hyundai extends IONIQ 5 lease deal for $189 a month
The Hyundai IONIQ 5 is one of the most popular vehicles in the US, and for good reason. Hyundai updated it for the 2025 model year with more driving range (up to 318 miles), a revamped look inside and out, and a built-in NACS port for charging at Tesla Superchargers.
Hyundai was also offering IONIQ 5 leases as low as $189 per month, making it one of the most affordable options for those looking to go electric.
The offer was set to end on November 3, but Hyundai has extended it for at least another month. Through December 1, you can still lease a 2025 Hyundai IONIQ 5 SE RWD for just $189 per month for 36 months. With $3,999 due at signing, the effective cost is about $300 a month.
That’s still a pretty good deal, considering the 2025 Ford Mustang Mach-E Select RWD is listed for lease at $219 a month for 24 months. With $4,499 due at signing, the effective cost is $406 a month, or over $100 more than the IONIQ 5.
Upgrading to the IONIQ 5 SEL RWD with 318 miles of range costs just $50 more per month. The offer is listed at $239 for 36 months with $3,999 due at signing, or an effective rate of $350.
Hyundai reduced prices on the 2026 model year by nearly $10,000 on some trims after the federal tax credit expired at the end of September.
| Hyundai IONIQ 5 Trim | Driving Range (miles) | 2025 Starting Price | 2026 Starting Price* | Price Reduction |
| IONIQ 5 SE RWD Standard Range | 245 | $42,600 | $35,000 | ($7,600) |
| IONIQ 5 SE RWD | 318 | $46,650 | $37,500 | ($9,150) |
| IONIQ 5 SEL RWD | 318 | $49,600 | $39,800 | ($9,800) |
| IONIQ 5 Limited RWD | 318 | $54,300 | $45,075 | ($9,225) |
| IONIQ 5 SE Dual Motor AWD | 290 | $50,150 | $41,000 | ($9,150) |
| IONIQ 5 SEL Dual Motor AWD | 290 | $53,100 | $43,300 | ($9,800) |
| IONIQ 5 XRT Dual Motor AWD | 259 | $55,500 | $46,275 | ($9,225) |
| IONIQ 5 Limited Dual Motor AWD | 269 | $58,200 | $48,975 | ($9,225) |
The 2026 Hyundai IONIQ 5 was listed for lease starting at $289 per month, but that offer also ended on November 3. Hyundai has yet to update lease offers for the new model. We’ll keep you updated as soon as it’s posted.
Hyundai’s electric SUV remains one of the most affordable EVs in the US, alongside the Chevy Equinox EV and new Nissan LEAF.
For those looking for a spacious, efficient, reasonably priced SUV, the Hyundai IONIQ 5 is still worth checking out.
Interested in taking one for a spin? We’ve got you covered. You can use our link to find available Hyundai IONIQ 5 models near you.
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Polestar is about to make staying on course and finding your exit on the highway a lot less stressful. The EV maker is rolling out Google Maps’ new live lane guidance feature right onto the 10.2-inch driver display in the Polestar 4 – and it’s the first car brand to do so.
If you’ve ever missed an exit because you couldn’t get over in time, this one’s for you. Google Maps’ feature uses in-car AI to determine exactly which lane you’re in by analyzing road elements like road signs and lane markings from one of the Polestar 4’s forward-facing cameras. Then, it gives you visual and audio reminders to change lanes in time. No more guesswork, no more “oh no, that was my exit” moments.
You’ll see every possible lane highlighted for your route, along with a clear indication of which one you’re in. It’s designed to calm the chaos of multi-lane driving, especially in rush-hour traffic or sprawling interchanges.
Sid Odedra, Polestar’s head of UI/UX, says of the company’s latest collaboration with Google: “Live lane guidance continues the path of Polestar’s driver-centric UX strategy, reducing driver stress and improving safety by making missed exits and last-minute lane changes much less of a worry.”
The feature is coming first to Polestar 4 drivers in the US and Sweden “in the coming months,” via an over-the-air update. It’ll hit more markets and road types after that.
Google Maps’ Andrew Foster says this is just the next chapter in a partnership that began with the Polestar 2 in 2020, when it became the first car to ship with Google-built-in software. “Now, Polestar 4 will be the first to integrate our groundbreaking live lane guidance, which will help people drive with even more confidence.”
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
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