Government "U.S. Electric Vehicle Subsidy Abolished, Unconfirmed Issue"

The government says it is undecided over reports that the transition team for U.S. President-elect Trump is planning to abolish subsidies for electric vehicles.

The Ministry of Trade, Industry and Energy explained that the report is limited to the tax credits consumers receive when purchasing electric vehicles, and that it has not yet been confirmed whether the Inflation Reduction Act itself will be abolished.

He added that among the tax credits included in the Inflation Reduction Act, investment and production tax credits were not mentioned.

He said he has been closely communicating with the industry and reviewing various scenarios in preparation for uncertainty, and that he plans to consult with the U.S. side in the future.