Trump to End EV ‘Mandate.’ What That Means for Tesla Stock.

Trump to End EV ‘Mandate.’ What That Means for Tesla Stock

Trump’s statement on electric vehicles:

  • President Donald Trump vowed to eliminate the electric vehicle mandate in his inaugural address.
  • However, there is no federal mandate on electric vehicles, only EPA rules requiring auto makers to sell battery electric vehicles to avoid emissions-related fines.

Impact on Tesla and the US auto industry:

  • Tesla’s zero-emission vehicle (ZEV) credits, which generate almost $10 billion in sales, are tied to California Air Resources Board (CARB) standards.
  • Ending CARB’s authority to regulate state emissions would require a lengthy legal process.
  • A federal challenge to CARB could have a big impact on Tesla’s ZEV credit sales.
  • Easing EPA standards could better match EV demand with EV regulations.

Potential consequences:

  • Removing the federal EV purchase tax credit worth up to $7,500 for qualifying EV purchases would require legislation.
  • The “Green New Deal” could also mean removing the federal EV mandate, which would require a rule-making process.
  • A disruption in regulatory credit pricing could affect EV start-ups like Rivian Automotive.

Market reaction:

  • Tesla stock was up 0.5% in after-hours trading at $428.55.
  • S&P 500 and Dow Jones Industrial Average futures were rising 0.2% and 0.3%, respectively.
  • Tesla stock has risen about 70% since the Nov. 5 US presidential election, despite the likelihood of reduced federal support.

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