The results of the November 5, 2024 presidential election stands as a critical juncture for the future of electric vehicles (EVs) in the U.S.
With Vice President Kamala Harris as the Democratic candidate and former President Donald Trump running for the Republicans, the election could dramatically alter the trajectory of EV adoption. A win for Harris could propel the United States toward an electric future, while a Trump victory may slow or even reverse current progress.
Looking and hearing reports from various media outlets including right-wing Epoch Times, a stunning piece by veteran GOP consultant Mike Murphy who is also the founder of EVRepublicans.org. and the EV Politics Project, and listening to experts and opinion leaders from both Republicans and Democrats online, plus a white paper written by Gil Fortgang Washington, and associate analyst, U.S. Equity Division at research and consulting firm T. Rowe Price give me a glimpse of the possible effect on EVs and renewables in the U.S. after the elections.
Kamala Harris is poised to continue the Biden administration’s policies aimed at increasing the adoption of electric vehicles. As Vice President, she supported initiatives like the 2022 Inflation Reduction Act (IRA), which provided substantial incentives for EV buyers, including tax credits of up to $7,500 for new electric vehicles. The Democratic Party has also backed tighter emissions regulations, pushing automakers to make at least half of their new sales either electric or hybrid by 2032.
On one hand, these policies are aimed not just at environmental goals but also at strengthening domestic EV production. By building up a robust EV market, the Democrats aim to create jobs in clean energy, improve public health by reducing pollution, and keep the U.S. competitive with global EV leaders like China.
If Harris wins the presidency, it’s likely these policies will continue or even expand. The government could accelerate the rollout of EV charging infrastructure, with plans to install 500,000 chargers by 2030. Such a boost could address one of the biggest hurdles to widespread EV adoption: range anxiety due to the lack of charging stations, particularly in rural areas.
On the other hand, a Trump victory in 2024 could mark a significant detour for the U.S. EV market. Trump has openly criticized EV mandates, referring to them as a threat to the U.S. auto industry and consumers. He promised to end what he calls the “EV mandate” on his first day in office, arguing that it would save Americans thousands of dollars by keeping gas-powered vehicles affordable.
Trump’s Republican platform also signals a redirection of funding. Instead of bolstering the EV market, Trump has hinted at reallocating resources back to traditional internal combustion engine (ICE) vehicles. This would reduce the momentum for EVs and could discourage international automakers from investing in U.S.-based EV production. The financial incentives and support that have encouraged manufacturers like Kia and Hyundai to build EV plants in the U.S. could be scaled back, leading to a slowdown in the nation’s EV development.
“Why such Republican hostility toward electric cars? It’s tribal. In our modern politics any friend of my enemy must be my enemy too. If Joe Biden is for EVs, we must be against them. GOP politicians looking for cheap applause cannot help but pile on and amplify one of the latest turns in the culture war,” EVRepublicans.org founder Mike Murphy warns.
A notable wildcard in the Republican stance on EVs is Elon Musk, CEO of Tesla and a major figure in the global EV market. Musk, who endorsed Trump in 2024, has the potential to shape the Republican Party’s policies on electric vehicles. While Musk’s endorsement of Trump indicates alignment with other parts of his platform, he has long championed EVs and may influence a softer Republican stance on electric vehicle regulations.
If Musk’s influence prevails, Trump and the Republicans might adjust their position to ensure that EV innovation isn’t entirely stifled. However, this would likely come in the form of relaxed regulations and minimal government incentives, relying more on market forces than on federal policy to drive EV adoption.
A Harris win promises to sustain and enhance current EV-friendly policies, providing more incentives, improved infrastructure, and stricter emissions standards. In contrast, a Trump victory could roll back many of these advancements, slowing EV adoption and reigniting the dominance of gas-powered vehicles.
