President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.

President-elect Donald Trump’s transition team is reportedly planning to eliminate the $7,500 consumer tax credit for electric vehicle (EV) purchases, a central provision of the Inflation Reduction Act (IRA).

Ending the dollar incentive to buy EVs could have grave implications for an already stalling US green transition. But it would probably benefit Elon Musk’s Tesla.