The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of President-elect Donald Trump’s most prominent backers.

President-elect Donald Trump will reportedly cut the EV tax credit when he takes office in January, but contrary to popular belief, Wedbush analysts say the move could actually benefit Trump’s “first buddy,

President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.