The potential effect of tariffs on the electric vehicle (EV) market landscape remains unclear. While analyses have been conducted, they have yet to include the potential impact of tariffs, which could raise the cost of purchasing a car by thousands of dollars.
“It’s hard to predict the effect on the EV industry,” said Jenkins, acknowledging the fluid nature of the situation due to evolving tariff threats. Increased prices could dissuade Americans from buying any new car. However, EVs may be less impacted by trade barriers, as they are more frequently assembled in the U.S. compared to gas-powered vehicles. The future of the EV market continues to be a point of discussion.
