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While eliminating the electric vehicle tax credit would likely lead to a drop in EV sales and production, Tesla sales would probably remain largely unaffected, one expert says.

FOX Business takes a look at some of the noteworthy food, product and automotive recalls that occurred in the U.S. in May 2025.

General Motors CEO Mary Barra said the automaker is increasing its U.S. investment and that Trump's tariffs are a "tool that the administration can use to level the playing field."

Tesla CEO Elon Musk's role with the Trump administration ended on Wednesday and will be able to focus more time on Tesla, as the company has faced headwinds this year.

President Donald Trump's tariffs on imported vehicles and parts are driving up car prices, and the average cost of U.S.-made cars is $53,000, higher than the $49,000 industry average.

General Motors is investing heavily into a New York plant that will produce its next generation of V-8 engines that will go into trucks and SUVs.

Volvo is looking to lower costs by cutting thousands of jobs, they announced on Monday. Most of its production based in Europe and China.

The 2026 Toyota RAV4 offers hybrid and plug-in hybrid models with improved power, three new designs, and advanced multimedia and safety features.

Five past winners have claimed the most earnings from the Indy 500. The 109th running of the race will have a purse of up to $20 million.

President Trump's 'Big Beautiful Bill' contains a proposal that would allow people to write off auto loan interest paid on their taxes if their car is made in America.

Automaker Toyota is recalling over 443,000 Tundra and Tundra Hybrid trucks over a fault in their reverse light assemblies that could make them stop working.

California's 2035 deadline for phasing out gas-powered cars is overturned after the Senate voted to rescined an EPA waiver empowering the Golden State's regulation.

Tesla's chief financial officer, Vaibhav Taneja, took home a $139 million pay package last year. It was tied to stock options and equity awards, according to a regulatory filing.

General Motors said it has "decided to restructure the Durant Guild and correspondingly optimize GM China’s operations" because of "significant changes to economic conditions."

Uber's vision of shared, electric, and autonomous mobility advances with Volkswagon partnership, aiming for a 2026 launch in Los Angeles and beyond.