According to online reports, analyst Wade Bush said that Trump's election as president of the United States will have a negative impact on the overall electric vehicle market, because the U.S. federal government may cancel electric vehicle tax rebates and tax incentives. They point out that Elon Musk's support for Trump is betting on the fact that, given Tesla's unparalleled size and scope in the industry, an environment without subsidies for electric vehicles would give Tesla a clear competitive advantage. "If Harris wins, we expect the electric vehicle tax credit to remain unchanged and eventually increase in 2025, as the goal of getting more American consumers to buy electric vehicles will be a priority for the Harris administration," analysts wrote.