Source: The American Prospect
by Ryan Cooper
“It has been obvious to informed observers for at least a decade that EVs are where car production as an industry is going to land, sooner or later. They are faster, simpler, cheaper to run and maintain, dramatically more efficient, and most importantly, produce no direct carbon emissions, when stacked up against cars running on fossil fuels. So, the Inflation Reduction Act contained a large subsidy package for the manufacture and sale of EVs. Automakers got a variety of subsidies for building batteries and EVs, while car buyers got a $7,500 tax credit for purchasing them. That way, the Big Three (General Motors, Ford, and Stellantis) could start to catch up with Chinese companies, which stole a march on America the first time Trump threw a wrench into the EV transition.” (01/20/25)
https://prospect.org/2026/01/20/how-trump-doomed-american-auto-industry/