The internet is abuzz with what was the first and very explosive debate between American president Donald Trump and his chief rival and former vice president Joe Biden. In the debate, Donald Trump claimed support for electric cars and appeared to take credit for the federal EV tax credit that was given by the Obama administration which helped companies like Tesla grow.
“I’m all for electric cars,” he said. “I’ve given big incentives to electric cars,” he added insinuating that he had given the EV tax credit, not the Obama administration. “Not really because what’s happening is that the car is now much less expensive and it’s a much safer car, and you are talking about a tiny difference. And then what would happen, because of the cost of the car you would have at least double or triple the number of cars purchased,” he further said.
All of this was strange because Trump refused to acknowledge the climate change crisis. He has even pulled the US out of the Paris accords. The only incentive for EVs is the federal incentive for the IRS tax credit which was implemented during the Obama administration.
It was part of the American clean energy and security act of 2009 which was in Obama’s first term. If anything Trump has tried to roll back these incentives as a part of his original budget for 2020. He also has intentions to roll back the emission standards which will incentivise incumbent players to now invest further in electric vehicles but continue on with internal combustion engines.