Donald Trump’s return to the White House has stoked optimism on Wall Street, where his business-friendly agenda is expected to juice economic growth and loosen regulations that nibble away at corporate profits.
Electric vehicle makers, however, face a hazier outlook than most other businesses. Trump’s rhetoric and campaign promises have put him squarely at odds with America’s electric vehicle makers and the outgoing Biden administration, which expended ample effort to promote electrification. But the president-elect’s close ties to Tesla (TSLA) CEO Elon Musk cast doubt on how thoroughly he will carry out his promises.
Trump made his disdain for electric vehicles clear on the campaign trail. He said they were too expensive and insisted no one wanted to buy them because of their inadequate range.
He called Biden-era electrification efforts part of “the Green New Scam,” a play on the “Green New Deal,” a set of policy proposals meant to address …