As part of his flurry of first-day actions, US President Donald Trump took aim at electric vehicles, a cornerstone of the Biden administration's climate change agenda.

Trump's executive order on "Unleashing American Energy" on Monday included steps to ensure a "level" playing field for gasoline-powered motors and halt federal funding to build new EV charging stations.

The executive order also appeared to presage other reversals, referencing the possible elimination of a federal tax credit for EV purchases and the renouncement of a US waiver that allows California to set stricter requirements on cars.

During his inaugural address, Trump said the moves would "end" the "Green New Deal," ridiculing Biden-backed incentives for EV sales.

While Trump harshly criticized EVs during the presidential campaign, policy experts have been skeptical Trump will junk all the Biden-era EV programs, in part because significant federal funding has gone toward projects in Republican congressional districts, where thousands of jobs are expected to be created.

Shares of EV makers like Rivian and EV charging companies such as EVgo fell sharply Tuesday. Tesla, which is led by close Trump ally Elon........

© International Business Times