Rivian and Lucid saw stock boosts after Trump's tax bill passed in the House, ending $7,500 EV tax credits in the fall.
The new tax bill could lower demand for EVs, impacting bigger automakers, as cars from companies selling over 200,000 EVs do not qualify for the tax credit.
Analysts suggest Tesla could be significantly impacted by the loss of the EV tax credit, potentially affecting sales volume.
Tesla, Rivian, and Lucid have experienced stock fluctuations this year, with concerns mounting over the implications of the tax credit elimination.