DETROIT (Michigan News Source) – With the passage of President Donald Trump’s Big Beautiful Bill, the legislation called for the end of the $7,500 rebate for purchasing an electric vehicle. That federal rebate ends this month.

Reuters reported in July that Trump’s U.S. Environmental Protection Agency (EPA) repealed all greenhouse gas emission standards for light-duty, medium-duty and heavy-duty vehicles.

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Now, Bloomberg reports that stripping away electric vehicles incentives and emission standards will translate to billions of dollars for Detroit’s automakers.

General Motors and Ford have both shifted focus from electric vehicles to gas-fueled pickups, according to Bloomberg. Industry analysts say that gas-powered pickup trucks are cash cows with high profit margins for car manufacturers.

Trump campaigned on presidential opponent Kamala Harris supporting a proposed electric-vehicle mandate that would phase out all other vehicles by as early as 2035.

Trump said he’d not allow electric vehicle mandates, a move he said would save the Michigan auto industry from extinction.