The head of a Chinese auto industry group is reportedly of the opinion that President Donald Trump’s tax bill is a win for Chinese EV companies globally, as it favors gasoline-powered cars over electric ones.

The legislation cuts off federal tax credits for electric vehicles and residential solar by the end of the year.

The $7,500 tax credit that car shoppers can use for new EV purchases is set to expire at the end of September, according to the tax and spending bill that passed the House of Representatives on Thursday.

The valuable electric vehicle tax credit for new and used EVs is set to end after September. Here’s how these credits work and who qualifies.

A massive tax and spending package championed by President Donald Trump and passed by the Senate on Tuesday would end tax credits for electric vehicles within three months

P resident Donald J. Trump has been on a crusade during his second term in office to pass what he has dubbed the "One Big Beautiful Bill," a mega-bill encompassing significant tax and spending changes for the federal government — and as of July 3, that bill is set to have a major impact on future electric vehicle buyers.

President Trump has battled California Gov. Newsom over wildfires, immigration, environmental rules, and vehicle mandates as the administration targets progressive policies.

Shares of electric vehicle maker Tesla tumbled 7% as the feud between CEO Elon Musk and Trump reignited over the weekend.

Slate Auto’s plan for a sub-20K USD electric pickup hit a setback after President Donald Trump signed a bill ending EV tax credits. The Verge reported that Trump’s move to end EV tax credits has effectively derailed Slate Auto’s low-cost pricing strategy.

President Donald Trump's "Big, Beautiful Bill" passed today, and the bill holds mixed news for new-car buyers.