Former Tesla exec claims EV industry will grow, not shrink, after death of $7,500 tax credit: 'The market's established'

Jon McNeill (Credit: Christinne Muschi/Bloomberg via Getty Images)

The U.S. electric vehicle market is established and ready to grow without federal subsidies, according to Jon McNeill, a former Tesla president of global sales and service and current GM board member.

Speaking to CNBC on Thursday, McNeill expressed confidence that despite the recent expiration of a key EV tax credit, the industry will continue its upward trajectory, bolstered by more model choices and the availability of lower-priced vehicles.