Tesla Seen as Winner on Potential End of Tax Credit for EVs -- Market Talk

Dow Jones06:13

1713 ET - The potential discontinuation of the $7,500 consumer tax credit for EVs under Donald Trump's administration isn't surprising and should be positive for Tesla and Elon Musk over time, Wedbush analysts say in a research note. The loss of the EV tax credit could hurt some demand on the margins in the U.S., but this will enable Tesla to further fend off competition from Detroit once the EV tax credit disappears, the analysts say. Furthermore, Trump could launch other incentives and programs to catalyze U.S. built EVs, and Musk will likely have a big seat at the table as these EV discussions happen within the Trump transition team. "We believe any sell-off in Tesla from these reports is the wrong knee-jerk reaction and we would be buyers," the analysts say.(sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

November 14, 2024 17:13 ET (22:13 GMT)

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