Summary:
Toyota's $1.5B investment in the startup ecosystem signals major corporate backing for transportation innovation
EV sales surged as the $7,500 federal tax credit expired, with Tesla delivering a record 497,099 vehicles in Q3 2025
Automakers like Ford, GM, Hyundai, and Rivian reported record EV sales, but face challenges with potential slowdowns and inventory management
The Department of Energy canceled $7.56B in clean energy projects, disproportionately affecting blue states and raising reliability concerns for startups
Government instability in energy funding could impact small startups relying on federal partnerships for growth
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More than a month ago, we asked readers how EV sales would fare after the $7,500 federal tax credit expired on September 30. Most predicted sales would plummet.
It's still early, but the expiring credit spurred a sales surge as consumers rushed to buy EVs before the deadline. Tesla delivered its best quarter ever—497,099 vehicles, a 29% jump from Q2 and a 7% increase year-over-year.
Ford Motor, General Motors, and Hyundai also reported record EV sales. Rivian saw deliveries rise to 13,201 vehicles, up from 10,661 and 8,640 in previous quarters.
The big question: How will automakers handle a potential slowdown in EV sales post-tax credit? Rivian has already lowered its 2025 guidance; others may follow.
The challenge is clearing inventory for 2026 models without slashing profit margins or deepening losses.
Meanwhile, the Department of Energy canceled 321 clean energy projects, totaling $7.56 billion. California was hit hardest, losing $2.2 billion, including a $630 million grid-modernization program that could have been a national model. Colorado, Illinois, Massachusetts, Minnesota, New York, and Oregon each lost $300–600 million.
Red states appeared lower on the list; most canceled projects were in states that voted for Kamala Harris. Some blue-state projects survived, possibly due to political ties or aligned interests with the Trump administration.
This move suggests the government may be a less reliable partner for businesses, especially small startups.
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