EV CEOs say they won’t rely on renewed federal support

Scout Motors CEO Scott Keogh told CNBC on Wednesday that the startup had been designed from the outset to operate without depending on legislation or other support that might not materialize. Keogh is an automotive industry veteran.

Federal backing for electric vehicles has changed under successive administrations. The Trump administration ended or rolled back climate and EV initiatives supported by the Biden administration, including a customer incentive of up to $7,500 for an electric vehicle purchase.

Traditional automakers such as General Motors and EV startups had relied on credits to help lift sales and improve the path to profitability. They no longer have the same level of federal assistance, leaving manufacturers to plan without assuming that Congress will restore it.