Tesla, Rivian Drop on Report Trump Wants to End EV Credit.

US automaker stocks, including Tesla and Rivian, dropped after reports that President-elect Donald Trump plans to eliminate the $7,500 consumer tax credit for electric vehicles. This move, part of a broader tax-reform effort, could significantly impact EV adoption in the US, which has already faced challenges due to high vehicle prices and limited charging infrastructure. While Tesla CEO Elon Musk supports the end of the credit and believes his company can adapt, experts warn that removing this incentive without a replacement could hinder EV sales in the country. [Extracted from the article]