PremiumGoldman Trading Desk Views "Trump As Bearish For US EV Market"
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President Donald Trump's Inauguration Day executive order, "Unleashing American Energy," effectively dismantles the Biden-Harris administration's mandate that 50% of all new passenger cars and light trucks sold by 2030 be zero-emission vehicles. The fate of the $7,500 EV tax credit for buyers remains unclear, but it is widely expected to be eliminated.
Responding to the executive order, Goldman's Thomas Evans told clients that its trading desk views Trump's actions as "bearish for the US EV market specifically."
However, Evans noted this "does not expect that it will halt the transition altogether."