Trump's Stance on EV Tax Credit, Musk's Role, and Auto Industry Plans

Donald Trump, Republican presidential candidate, expressed his intention to potentially end the $7,500 electric-vehicle tax credit if elected. He is open to appointing Elon Musk to a cabinet or advisory role. Trump also plans to impose tariffs on vehicles produced in Mexico and discourage Chinese automakers from building plants in Mexico for U.S. market vehicles.

Republican presidential candidate Donald Trump announced on Monday his intention to potentially end the $7,500 tax credit for electric vehicles if elected. Trump revealed his stance during an interview with Reuters following a campaign event in York, Pennsylvania, stating that tax credits and incentives are generally not beneficial.

When asked whether he would consider naming Tesla CEO Elon Musk to a cabinet or advisory role, Trump responded affirmatively, calling Musk a 'brilliant guy' and noting that he would certainly consider it. Musk has publicly endorsed Trump in the U.S. presidential race, but Tesla did not immediately comment.

Additionally, Trump discussed his plans to reverse Treasury Department rules that facilitate automakers' access to the tax credit and emphasized his preference for gasoline-propelled cars alongside electric vehicles. He also criticized the Biden administration's rules that push automakers to produce more EVs to meet stricter emission standards. Trump further indicated intentions to impose tariffs to discourage the export of vehicles produced in Mexico for U.S. consumers and to prevent new Chinese automaker plants in Mexico. Dismissing Google's monopoly status, Trump hinted at potential penalties but refrained from specifics, calling the company 'like the Wild West.'

(With inputs from agencies.)