Just to start out: the federal EV tax credit is still alive and kicking. It was not eliminated by the stroke of Donald Trump’s pen because it can’t be. The tax credit — $7,500 for a new EV, $4,500 for a used one — was passed by Congress as part of the Inflation Reduction Act (IRA), and it would take another act of Congress to do away with it.

President Trump's executive order on electric vehicles could end subsidies and programs that promoted that aspect of the car market. Joann Muller, a transportation correspondent at Axios, joins CBS News with more.

After initially launching in 2022, the Cadillac Lyriq seemed to finally hit a turning point in 2024 with GM addressing many of its software and battery manufacturing issues. The Lyriq closed out the year as the second best selling EV at GM just behind the Chevrolet Equinox EV with 28,

Cadillac is adding to its high-performance V-Series family with the 2026 Cadillac LYRIQ-V. The first-ever all-electric V-Series vehicle, the LYRIQ-V delivers signature performance blended with craftsmanship and technology.