Tax credits or not, auto companies show no intention of retreating from a transition away from gas-burning cars and trucks after spending $160B on EV plans and ideas
DETROIT — If President-elect Donald Trump makes good on his threat to kill federal tax credits for electric vehicle purchases, it’s likely that fewer buyers will choose EVs.
Yet tax credits or not, auto companies show no intention of retreating from a steady transition away from gas-burning cars and trucks, especially given the enormous investment they have already made: Since 2021, the industry has spent at least $160 billion on planning, designing and building electric vehicles, according to
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