The Biden administration made new tax credits available for companies that generate clean electricity and argued it would be a mistake for President-elect Donald Trump to try to undo them.

Stellantis NV and Volkswagen AG shares declined as some of their plug-in cars lost access to U.S. tax credits under tougher rules that took effect this week.

The tax credit created by President Joe Biden’s signature climate law now includes a carve-out that will benefit some existing nuclear power plants.

California Gov. Gavin Newsom is promising to step in with a state electric-car tax credit if President-elect Donald Trump repeals a federal subsidy after he takes office next year.

Still, because EVs account for a small percentage of new car sales, removing the credit would have little impact on gasoline demand.

A leaked draft of Treasury Department rules for hydrogen tax credits in President Joe Biden’s climate law is drawing warnings from advocates that they may stifle the burgeoning industry.

The departments of Treasury and Energy proposed new rules Dec. 1 that could make it harder for electric vehicles to qualify for a full $7,500 federal tax credit.

The Biden administration has discussed giving automakers a temporary reprieve from rules aimed to limit a consumer tax credit for electric vehicles that contain certain foreign materials.

WASHINGTON — Electric vehicle leases are likely to surge beginning April 18, experts say, as new federal restrictions on EV tax credits come into effect.

Ford Motor Co. expects only its F-150 Lightning pickup to qualify for a full tax credit under a new law designed to spur adoption of battery-powered models.