The election of Trump to the White House could have implications for electric vehicles.

• The outcome of the U.S. presidential election, with Vice President Kamala Harris losing to President-elect Donald Trump, is predicted to cause uncertainty in the electric vehicle industry.
• The former president and other Republicans have largely condemned EVs, arguing that they are being forced upon consumers and will harm the U.S. automotive industry.
• Trump has pledged to repeal or weaken numerous vehicle emissions regulations under the Environmental Protection Agency and encourage the use of electric vehicles through tax breaks and other incentives.

The U.S. electric vehicle industry is likely to face uncertainty following President-elect Donald Trump's victory over Vice President Kamala Harris.

The former president and Republicans have largely condemned EVs, claiming they are being forced upon consumers. Trump has vowed to roll back or eliminate many vehicle emissions standards under the Environmental Protection Agency as well as incentives to promote production and adoption of the vehicles, such as the Biden administration's Inflation Reduction Act of 2022.

Officials and industry insiders have stated that it would be challenging for Trump to entirely dismantle the IRA, but he could potentially eliminate or restrict EV subsidies through executive orders or other policy measures.

Instead of targeting industrial production credits for companies, several people predicted that Trump would focus on federal consumer credits that provide up to $7,500 for the purchase of an EV.

"David Rubenstein, cofounder and cochairman of an investment firm, stated on CNBC on Wednesday that the IRA is likely to have some changes but will not disappear entirely. He believes that there are good aspects of the IRA that both Republicans and Democrats can agree on."

Investments in EV production under the IRA have been occurring mainly in Republican states such as Ohio, South Carolina, and Georgia.

Winner and losers?

It is predicted by several Wall Street analysts that the "Detroit" companies, including Chrysler parent, would benefit the most from a second Trump term and Republican control of Congress.

"According to BofA Securities analyst John Murphy, in a Wednesday investor note, F and GM are expected to benefit the most from the Trump administration. The current environmental regime is pushing legacy automakers, trucks, to decarbonize by the end of the decade and rapidly shift to an EV portfolio."

The success of GM's plans for an electric future and a profitable EV business in the near-term is heavily dependent on federal tax incentives.

EV startups like and would gain more from a Democratic victory, according to analysts.

On Wednesday, shares of GM and Ford rose in early trading, while Stellantis, which is facing challenges in the U.S., saw slight declines. Meanwhile, Lucid and Rivian both experienced losses, with Lucid down 3% and Rivian down 6%.

Elon Musk, CEO of the U.S. electric vehicle leader, campaigned heavily for Trump in swing states and has been discussed as a potential government efficiency czar by the president.

Tesla's all-electric vehicle shares surged in early trading, achieving a 13% increase and setting a new 52-week high for the stock.

""RIVN and LCID are facing challenges, which is evident in their stock prices, while TSLA is expected to have no significant issues since it has already achieved profitability and will introduce more affordable products to attract a wider audience," Murphy stated."

Numerous automakers did not promptly respond to NBC News and other media outlets' calls declaring Trump the election winner.

Ford congratulated Trump and newly elected officials on Wednesday, expressing excitement to collaborate on policies that benefit the U.S. automotive industry, which supports 9.7 million jobs and contributes $1 trillion to the economy annually.

California EV mandates

California and other states that set their own vehicle emissions standards, including requirements for sales of all-electric vehicles, are also expected to face a renewed battle with Trump.

The "Advanced Clean Cars II" regulations of 2022 mandate that 35% of 2026 model year vehicles, which will be introduced next year, must be zero-emission vehicles. Battery-electric, fuel cell, and to some extent, plug-in hybrid electric vehicles are considered zero-emission vehicles.

Automakers will advocate for the mandates to be delayed before the election, according to automotive officials.

The California Air Resources Board reports that 12 states and Washington, D.C., have adopted the rules, but roughly half of them did so starting with the 2027 model year. These states are part of CARB's Advanced Clean Cars regulations that require 100% of new vehicle sales in California to be zero-emission models by 2035.

In 11 states and the District of Columbia, the market share of EVs was 10% or higher at the start of this year, as stated by the Alliance for Automotive Innovation, a trade association representing most major automakers operating in the U.S.

Experts predict that Trump may rescind or pause the Corporate Average Fuel Economy (CAFE) standards for model years 2027-2031.