President-elect Trump is expected to dismantle many of the green initiatives pushed by President Biden when he returns to the White House, including regulations aimed at incentivizing the production and purchase of electric vehicles (EVs).

In terms of purchases, Trump's transition team is reportedly already looking to get rid of him $7,500 tax credit for the purchase or lease of certain EV and plug-in hybrid models approved as part of the 2022 Inflation Reduction Act signed by Biden.

President Biden drives an electric Ford F-150 Lightning at the Dearborn Ford Development Center in Dearborn, Michigan on May 18, 2021. (Nicholas Kamm/Getty Images)

Denying federal subsidies is seen to have the greatest potential impact on consumers who want to buy an EV or may be considering buying one.

"EV tax credits are meant to make electric vehicles more affordable for the average consumer and they are," said Scott Kunes, COO for Kunes Auto & RV Group. "We've seen EV sales and leases increase significantly as a direct result of federal tax incentives. Their repeal would once again put those vehicles out of reach for the average consumer."

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Shawn McLaughlin, CEO of Emporia Energy, said FOX Business that industry research shows that the majority of current EV owners are motivated to make the switch because it's their way of doing their part to help the environment.

A driver plugs in a Tesla electric vehicle for charging at a Tesla Supercharger location in Santa Monica, California on May 15, 2024. (Photo by PATRICK T. FALLON/AFP via Getty Images / Getty Images)

He argued that to continue the growth of EV use, the auto industry needs to attract new buyers who are more price sensitive.

“Recovery in government support and incentives for EV reception will slow EV sales growth over the next several years by making current EV offerings less competitive," McLaughlin said.

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However, even if the tax credit is repealed, the market will adjust to meet the needs of EV customers.

"With improvements in battery technology and unsubsidized manufacturing costs EVs will reach cost parity with ICE vehicles in 2026-2027, which will begin to attract more cost-sensitive buyers regardless of the federal EV tax credit," McLaughlin added.

Kreg Peeler, founder and CEO of EVject, a stand-alone EV charging connector, agrees – but predicts a big shift is coming to auto industry that would make the discussion of EV tax credits moot.

"Over the next 10 years, it doesn't matter what consumers think about EVs," Peeler told FOX Business. "It's the AV (autonomous vehicle) that wins."

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"When full autonomy is launched, car buyers will no longer be drivers. Fleets will be mainstream," he predicted. "The majority of travelers will pay for their trip per mile or minute and will not purchase their own vehicle."