Donald Trump elected, what future for the electric car?

The chips are down. While waiting for the official and final results, Donald Trump is guaranteed to return to the Oval Office in January 2025, four years after leaving it. In addition, the Republican Party which supports him should win more seats in the Senate, giving him free rein to pursue the policies promised during the campaign.

Known for his skepticism towards the environmental emergency, his return to the presidency of the United States could well slow down efforts made in terms of electrification under the Biden mandate. Indeed, for the record, in 2019, only 1% of vehicles sold were battery-powered. In 2024, this share rises to 8%.

“I will end the electric vehicle mandate on day one, saving the American auto industry from annihilation“, launched Donald Trump during a convention of his party. This type of sentence is enough to worry the various players in the electric vehicle value chain who have invested heavily in the field. If the Republican president applies his campaign convictions , incentives for the production and purchase of an electric vehicle may well disappear.

Demand for electric vehicles expected to weaken

Yes the “nouveau“President of the United States decides to backtrack on the tax credits initiated by theInflation reduction actthe future of electric vehicles in North America is becoming murky. Especially since Donald Trump has repeatedly affirmed his desire to tax imported products from abroad, 60% for Chinese products and 10% for the rest of the world. A protectionist measure which should impact foreign equipment manufacturers and manufacturers.

Particularly those who participate in the production of electric vehicles with the risk of a potential increase in the cost of batteries outside the USA, mainly dominated by the Middle Kingdom. This increase in taxes risks having consequences on the purchase price of electric vehicles. Coupled with a reduction in government incentives, this could deal a blow to demand for EVs, which has already weakened in recent months.

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Our colleagues atAutomotive News recall that new regulations on private vehicles must come into force in 2028. According to the American specialized media, the Trump administration could put a spoke in the wheels of the latter, delay it and postpone it for 2032. It also remains to be seen what will happen to government investments Biden in the installation of charging infrastructure. If Donald Trump did not return to the subject during his campaign, it is possible that his administration will slow down these.

Elon Musk, Donald Trump’s electric variable

But if the president-elect shows an aversion to battery-powered vehicles, this is without counting on his strong ally: Elon Musk. “I’m for electric cars, I have to be because Elon strongly supported me“, affirmed Donald Trump in reference to the head of Tesla to Reuters. When it comes to the billionaire, the Republican president immediately turns out to be softer when it comes to EVs.

Also read: From trendy to trumpy, will Elon Musk burn his wings in politics?

Note that he plans to create a committee “government efficiency” driven by Musk. The latter also made it known that in this hypothetical position, he intended to lighten the federal rules in favor of autonomous vehicles, the rules of the game are imposed state by state during Tesla’s results. The value of the action of the electric vehicle manufacturer also increased by 15% after Trump’s victory. Its presence in his government could possibly curb its “.electroscepticism“.