US/Granholm: The Cancellation of Tax Credits for Electric Vehicles Will Have Adverse Effects

US Energy Secretary Jennifer Granholm stated that canceling the US electric vehicle tax credit would have the opposite effect and give an advantage to car manufacturers in China. Reports in the US press suggested that Trump's transition team planned to eliminate the $7,500 consumer tax credit as part of broader tax reform legislation. When asked about these reports, Granholm remarked, "This would have a very adverse effect. If you eliminate these credits, what do you do? You leave the area to other countries, especially China."