"We had a number of competitors out there that really were selling EVs for whatever they could get for them, because they really wanted to get the credits on the environmental side. So we do think it will be a more stable environment," Jacobson said. Under a regulatory scheme dismantled by the Trump administration earlier this year, automakers faced fines if they failed to generate enough regulatory credits from selling EVs or buy them from electric-only companies like Tesla."
"Jacobson said that electric vehicle demand will likely be "pretty choppy" for the near future, after the $7,500 federal tax credit for new US-made EVs expired in September. GM once had ambitious plans to sell only EVs by 2035, but the company took a $1.6 billion charge this quarter following its electric vehicle strategy overhaul. Like other automakers, the Chevrolet-owner has scaled back its EV plans and invested in combustion-engine vehicles after the Trump administration rolled back federal support for electric cars."
The Trump administration reduced federal EV incentives and dismantled parts of the regulatory credit system, prompting shifts in automaker behavior. GM's CFO said some rivals sold EVs at steep discounts to secure environmental credits, and GM expects near-term EV demand to be "pretty choppy" after the $7,500 federal tax credit expired. GM took a $1.6 billion charge and has scaled back its goal of selling only EVs by 2035, reallocating investment toward combustion-engine vehicles. CEO Mary Barra said EVs remain the company's North Star while prioritizing profitability and catering to reduced customer demand. Wall Street responded positively to GM's revised approach.
Read at Business Insider
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