
As President Donald Trump's Big Beautiful Bill is officially signed into law, the bill scraps the $7,500 Federal EV credit on all purchases of new electric vehicles in the U.S.
What Happened: As the incentives are axed, EVs across the board are set to become dearer after September 30, 2025, when the incentives end. On Saturday, Business Insider compiled a list of vehicles set for a price hike from automakers like General Motors Co (NYSE:GM), Stellantis (NYSE:STLA), Ford Motor Co (NYSE:F) and Tesla Inc. (NASDAQ:TSLA).