Story perspectives

U.S. Ends EV Tax Credit, Sparks Sales Race

8/18/2025

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Summary

Story summary

The U.S. will terminate its $7,500 electric vehicle (EV) tax credit on September 30, leading to reduced shipments and new low-cost EV launches.
Hyundai has seen a significant drop in EV shipments, while hybrid production remains stable.
Rivian and Ford are increasing promotions to drive sales before the credit expires, with July EV sales at 130,100 units.
Ford intends to invest $2 billion in a new EV pickup truck priced at $30,000, facing challenges from high costs and regulatory changes.

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Story summary

The U.S. will terminate its $7,500 electric vehicle (EV) tax credit on September 30, leading to reduced shipments and new low-cost EV launches.
Hyundai has seen a significant drop in EV shipments, while hybrid production remains stable.
Rivian and Ford are increasing promotions to drive sales before the credit expires, with July EV sales at 130,100 units.
Ford intends to invest $2 billion in a new EV pickup truck priced at $30,000, facing challenges from high costs and regulatory changes.