US eliminates the US$7,500 EV federal tax credit

The US federal tax credit for electric vehicles (EVs) expired on 30 September, ending a US$7,500 incentive that has helped drive adoption since 2022. The Trump administration removed the benefit as part of its Big Beautiful Bill tax overhaul, also scrapping a US$4,000 credit for used EVs and a US$3,750 subsidy for plug-in hybrids.