The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.
States are using higher registration fees for electric cars to make up for declining fuel taxes, but some are punitive, environmentalists say. A federal tax could be coming.
Legal experts said the president was testing the boundaries of executive power with aggressive orders designed to stop the country from transitioning to renewable energy.
Automakers and even some Republicans may fight to preserve funds, and environmental activists will likely sue, but some experts said that some changes may not survive legal challenges.
The president said he’d declare an energy emergency, increase drilling and end support for electric cars. His pivot to oil and gas follows the hottest year in recorded history.
Rules for a $7,500 tax break for electric vehicle purchases and leases recently changed, but more far-reaching changes are expected when President-elect Donald J. Trump takes office.
State regulators said the measures would probably have been rejected by the Trump administration and that they would focus on homegrown legal strategies instead.
More car buyers are expected to eventually pick battery-powered cars and trucks as prices fall and technology improves, even if Biden-era incentives disappear.
The United Automobile Workers union asked a federal labor regulator to conduct an election at a factory Ford jointly owns with a South Korean battery company.
Sales of the company’s cars are flagging, but investors are focusing on the potential of autonomous driving and Mr. Musk’s ties to President-elect Donald J. Trump.
Japan’s second- and third-largest automakers hope the $50 billion deal would help them catch up with Tesla and China’s BYD in electric vehicles and advanced software.
Some fear Donald Trump could freeze the Energy Department’s loan office, which supports electric vehicles, geothermal, nuclear and other novel technologies.
EVgo, an electric car charging company that was awarded a $1 billion loan guarantee in October, said it was “working diligently” to close its deal before the new administration took power.
General Motors and other foreign automakers are selling fewer cars and losing lots of money in China, where domestic electric and hybrid cars have taken off.
General Motors said Monday that it would get back the $1 billion it had invested in the battery plant. LG Energy Solution will complete the construction.
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