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.

The incoming Trump administration plans to end the federal $7,500 tax incentive on EVs.The Latest Tech News, Delivered to Your Inbox

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.