Hyperdrive

EV Growth Expectations for Trump Years Are Already Being Slashed

President-elect has promised to end EV incentives on ‘day one’
Forecaster sees battery-electric US market share down 15%-20%

Workers assemble components of an electric vehicle pickup truck in Normal, Illinois. — Workers assemble components of an electric vehicle pickup truck in Normal, Illinois.
Photographer: Jamie Kelter Davis/Bloomberg

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By Keith Naughton

November 7, 2024 at 5:40 PM UTC

This article is for subscribers only.

Slowing electric-vehicle adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam.”

Automotive forecaster GlobalData on Wednesday cut its outlook for EV market share in the US for 2030 to 28% from 33% due to Trump’s election.