On January 20, immediately after assuming office as the US President, Donald Trump announced the revocation of an executive order on electric vehicles signed by former President Joe Biden in 2021. The order aimed to ensure that half of the cars sold in the US by 2030 would be electric.
Trump is also planning to instruct government agencies to reconsider emissions control regulations. The President has also halted the distribution of unspent funds from a $5 billion government support package for charging station development.
These moves were anticipated. During his election campaign, Trump repeatedly criticized electric vehicles, accusing the intention to ban gasoline-powered cars as a mistake.
He refuted the environmental benefits of electric cars, arguing that they pave the way for Chinese manufacturing dominance, drive American carmakers to the brink of bankruptcy, and cause mass unemployment for blue-collar workers. Soon after his reelection, he stated that he would revoke the Environmental Protection Agency (EPA) and Department of Transportation’s vehicle regulations upon taking office.
Last month, Reuters sources revealed that Trump is also considering reducing or eliminating incentives for electric vehicles.
Trump intends to redirect funds allocated for vehicle and charging station incentives towards mineral processing support for battery production, critical supply chains, and infrastructure. According to his transition team, minerals, and components necessary for national defense production take precedence over electric vehicles and charging stations.
In 2024, global electric vehicle sales grew by 25%, exceeding 17 million units, but most of these sales came from Chinese automakers.
Specifically, in the US market, electric vehicle sales reached 1.3 million units in 2024, a 7.3% increase, accounting for about 8% of total new car sales. Tesla remained the leading electric carmaker, with sales of over 633,000 vehicles, followed by Ford with 97,900, and Rivian in third place with 51,600 sales.
Last year, US car sales totaled 15.9 million, a 2.2% increase compared to 2023. General Motors was the top-selling brand with 2.7 million cars. Currently, General Motors is focusing on hybrid vehicles and lagging in electric car development.
Toyota and Ford also recorded strong sales growth in the US, at 3.7% and 4.2%, respectively. In the near future, Toyota plans to convert its entire US product range to hybrids. Ford, meanwhile, is very successful with gas-electric hybrids, with hybrid sales nearly doubling electric vehicle sales last year.
In the European market, sales of pure electric vehicles declined by 3% last year due to the removal of subsidies in Germany. If President Trump eliminates incentives for electric cars, the US market could face similar challenges, making it extremely difficult for electric vehicles to gain traction.
In reality, Americans are not very enthusiastic about electric cars, and US manufacturers are not keen on electrifying their entire product range. Customers still demand internal combustion engines or hybrid vehicles.
Therefore, restricting customer choices and forcing them to opt for a particular type of vehicle will unlikely garner support. Especially when the infrastructure for electric vehicle charging stations and the range of these cars remain inadequate and dependent on multiple factors.
TH (Tuoitrethudo)
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