The loss of the $7,500 federal EV credit under Trump could slash sales by 27%, with California planning state rebates as a response.

California is prepared to offer state tax rebates for electric vehicle purchases if the incoming Trump administration scuttles the federal EV tax credit, the governor said.

Prospective car buyers considering an electric vehicle may need to act fast to get a Biden-era EV tax credit worth up to $7,500, due to the likelihood that President-elect Donald Trump and Republicans on Capitol Hill will axe those savings in tax negotiations next year,