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.

Repealing the subsidy - a major component of President Joe Biden’s Inflation Reduction Act - would deal a significant blow to EV adoption in the U.S.

Some electric vehicles and plug-in hybrids are set to get less affordable from next year, it seems. As expected, the incoming Trump administration has set its sights on killing off the IRS clean vehicle tax credit, according to a report in Reuters this afternoon.

Four people were killed in a fire after a Tesla Model Y lost control and hit a pillar in Toronto last month. The four people were reportedly unable to open the doors of the car after it caught fire and a fifth passenger only survived the crash after onlookers smashed a window and dragged them from the wreckage.

Spread the loveA tragic accident involving a Tesla vehicle has claimed the lives of four passengers after the car caught fire, and its electronic door mechanisms appeared to malfunction, preventing escape.

Four people were killed and a fifth narrowly escaped from a fiery blaze after a Tesla crashed in Toronto last week. And the lone survivor sounds extremely lucky to have walked away from the crash. The accident occurred early last Thursday morning just after 12:00 a.