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“It’s last call at the bar, everyone is stepping up and ordering,” said Tyson Jominy of JD Power, which expects sales of about 16.1 million new vehicles this year.

A spokesperson said the Michigan facility is on schedule to open next year and will ultimately employ 1,700 workers as the company had projected when it downsized the project in late 2023.

The Trump administration’s plan to scrap federal incentives for EVs will be a major speed bump for battery-powered transportation in the U.S., but not a brick wall, according to forecasts.

House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives for the production of clean energy to help pay for President Donald Trump’s massive tax package.

Rivian Automotive said its electric-vehicle deliveries this year will fall short of Wall Street estimates as potential policy shifts in Washington threaten to further dampen EV demand.

The Biden administration made new tax credits available for companies that generate clean electricity and argued it would be a mistake for President-elect Donald Trump to try to undo them.

Stellantis NV and Volkswagen AG shares declined as some of their plug-in cars lost access to U.S. tax credits under tougher rules that took effect this week.

The tax credit created by President Joe Biden’s signature climate law now includes a carve-out that will benefit some existing nuclear power plants.

California Gov. Gavin Newsom is promising to step in with a state electric-car tax credit if President-elect Donald Trump repeals a federal subsidy after he takes office next year.

Still, because EVs account for a small percentage of new car sales, removing the credit would have little impact on gasoline demand.