Tesla (TSLA), Ford (F), and GM (GM) Face a Weaker EV Market. Who Can Protect Profits?
Source: Insider Monkey ·
On September 16, 2026, Reuters published an investigation showing that Trump administration policies, chiefly the elimination of the $7,500 federal EV tax credit, have derailed a wave of American EV and battery manufacturing investment. Roughly 87% of announced EV-related investments concentrated in states Trump won in 2024. General Motors Company (NYSE:GM)’s Ultium Cells battery joint […]
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On September 16, 2026, Reuters published an investigation showing that Trump administration policies, chiefly the elimination of the $7,500 federal EV tax credit, have derailed a wave of American EV and battery manufacturing investment. Roughly 87% of announced EV-related investments concentrated in states Trump won in 2024. General Motors Company (NYSE: GM )'s Ultium Cells battery joint venture in Lordstown, Ohio, idled production and laid off about 480 workers. Meanwhile, Ford Motor Company (NYSE: F ) scaled back its Glendale, Kentucky battery plant workforce to less than half its original planned size. Don't Miss: Ford (F) Answers Washington's China Criticism with a $1 Billion Kentucky Bet. Photo by Michael Fousert on Unsplash Tesla, Inc. (NASDAQ: TSLA ) could capture more U.S. EV market share as legacy automakers reduce their electric-vehicle investments. Reuters identified Tesla as the only American automaker among the world's 10 largest EV manufacturers. Ford and GM have…