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.

Although Tesla applauded the Trump administration's decision to eliminate the $7,500 consumer tax credit for electric vehicle purchases, it was criticized for perhaps making the US electric vehicle transition more difficult.

Shares of Tesla and other electric vehicle makers fell Thursday after a report President-elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.