Rivian Automotive Inc. shares dropped 12% on Thursday, their worst day in months, on heightened concerns the Trump administration is readying a plan to axe EV tax credits. Tesla Inc. shares also headed south, but to a lesser degree, as Tesla is seen as ...

Shares of US automakers fell after Reuters reported President-elect Donald Trump plans to eliminate the $7,500 consumer tax credit for electric-vehicle purchases.

Thursday, Jefferies analyst Philippe Houchois raised his price target on Tesla stock to $300 from $195 but kept his Hold rating on shares.

Key Takeaways Shares of Tesla and other electric vehicle makers fell Thursday after a report President-elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.Tesla told the Trump team that it supports ending the subsidy,

A new report suggests that President Trump will attempt to scrap the $7,500 EV tax credit when he returns to the White House next year. Tesla is said to back the move, with its CEO, Elon Musk, being a huge Trump supporter.

Electric vehicle stocks are falling Thursday after a report detailed the incoming Trump administration’s plans to axe a tax credit for consumers buying cleaner cars.