Government Subsidies
Elon Musk's views on EV subsidies validated as rivals adjust strategies
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The elimination of the $7,500 Electric Vehicle Tax Credit is prompting Tesla's competitors to scale back their EV ambitions, aligning with predictions made by Tesla CEO Elon Musk. Legacy automakers like General Motors, Ford, and Stellantis are reporting financial hits and revising targets amid reduced demand. Tesla, meanwhile, maintains strong sales without heavy reliance on the subsidy.