President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.

Discover the Trump administration's plans to make it more challenging for electric vehicles to compete with gasoline-powered ones.

Getting rid of the federal rebate could devastate the electric vehicle industry, but Tesla CEO Elon Musk doesn't mind. Here's why.