Trump would consider ending EV tax credit, naming Elon Musk as adviser – report

Donald Trump would consider ending a $7,500 tax credit for electric vehicle buyers if elected, and would be open to naming Tesla (NASDAQ:TSLA) CEO Elon Musk to a cabinet or advisory role, the Republican presidential nominee told Reuters.

“Tax credits and tax incentives are not generally a very good thing,” Trump said when asked about the EV credit in an interview after a campaign event in Pennsylvania, but he wasn’t making “any final decisions” on it.

“I’m a big fan of electric cars, but I’m a fan of gasoline-propelled cars, and also hybrids and whatever else happens to come along,” Trump said. He noted that he sees a “much smaller market” for EVs due to cost and battery range issues.

When asked if he would consider appointing Musk in an advisory or cabinet role, Trump said, “I certainly would, if he would do it. He’s a brilliant guy.”

Musk, who publicly endorsed Trump, took to social media platform X to respond. “I am willing to serve,” he tweeted, with an AI-generated image of him at a podium labeled Department Of Government Efficiency (DOGE).

Trump also told Reuters that if he’s elected, he plans to impose new tariffs on imports of vehicles produced in Mexico by the Detroit Three and others., and would block Chinese automakers from building new plants in Mexico to manufacture cars for the U.S. market.

“If you put tariffs on those cars, they’re going to make it here” he said. “We’re going to give incentives, and if China and other countries want to come here and sell cars, they’re going to build plants here, and they’re going to hire our workers.”

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