There's a lot of chatter about the President-elect's plans to eliminate the electric vehicle tax credit. Here's what you need to know.

Tesla stock was up in early trading Friday, rebounding from a steep drop on Thursday after Reuters reported that President-elect Donald Trump plans to reduce or eliminate the electric-vehicle purchase tax credit,

President-elect Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.