Welcome back to EV News Daily. Coming up today, Ex-Pang is heading to the UK. Scania needs some alternative batteries and Volvo's wireless charging. And plus, if you stay tuned to the podcast, I'll tell you why it's always worth checking insurance costs with various EV brands. Well, good morning, good afternoon or good evening, wherever you are in the world. Welcome to EV News Daily, a trusted source of EV information. It's Sunday 17th of November. I'm Martin Lee,

and I go through every EV story, so you don't have to. We'll start in the US, where there's a debate

raging right now. The new Republican White House plans to eliminate the $7,500 federal tax credit,

but industry observers, those that are lobbying on behalf of the car industry, are saying

that that will significantly impact the American automotive industry. Now, this proposal is part

of a broader tax reform agenda, focusing on promoting fossil fuels and funding expiring tax cuts

under the Tax Cuts and Jobs Act. Without the credit, though, the US may fall behind

in the global shift towards electric vehicles as countries like China and the European Union are

heavily subsidising their EV sectors. Well, the EV tax credit has been essential so far in making

EVs affordable, when very competitive as well with traditional

cars. Its removal could put US automakers at a disadvantage against cheaper foreign

EV makers, or rather just encourage them to sell more combustion cars, but isn't that kind

at the point of this? The Tax Cuts and Jobs Act shift from immediate R&D expensing to the five-year

amortization requirement has already decreased R&D spending by $12 billion, further straining innovation

efforts. Now, this lack of support may lead to higher EV prices and reduced demand,

forcing American companies to scale back their EV plans. Eliminating the EV tax credit

would also likely lead to job losses in exactly the areas that voted for the new administration.

The credit has supported consumer adoption, innovation, and particularly job creation in red states

in the US auto sector, companies like Ford, Stalantis and GM,

heavily investing in electrification, relying on consumer incentives to justify those investments.

And without the credit, domestic EV production and future job growth are at risk.

At least that's what those who are proponents of the tax credit are saying.

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