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Interestingly, Elon Musk has voiced support for abolishing the EV tax credit, positing that it would disadvantage Tesla's rivals more than Tesla itself. The rationale behind this viewpoint is rooted in the observation that many competitors, such as General Motors, Ford, and Hyundai, depend heavily on these subsidies to manage costs and prices. Unlike Tesla, which has a first-mover advantage and aims to produce EVs at lower costs, these legacy automakers are struggling to become financially viable in an increasingly competitive landscape.