Ford partners with Universal Electric Vehicle to test new EV technology amid post-tax credit demand slump

October marked a sharp reversal for the electric vehicle (EV) market as the expiration of the federal EV tax credit cooled demand after three months

The expiration of the $7,500 U.S. tax credit for electric vehicle purchases last year exposed cracks in the industry that had been masked by the government subsidy for over a decade

Demand that had been climbing, albeit almost agonizingly slowly, suddenly reversed course after the tax credits expired at the end of September 2025