01:05 PM EST, 02/07/2025 (MT Newswires) -- The Federal Highway Administration said in a letter posted online Friday that it is suspending the approval of all State Electric Vehicle Infrastructure Deployment plans for all fiscal years.

"Therefore, effective immediately, no new obligations may occur under the [National Electric Vehicle Infrastructure] Formula Program until the updated final NEVI Formula Program Guidance is issued and new

State plans are submitted and approved," the regulator said in the letter dated Thursday.

Shares of Tesla (TSLA), General Motors ( GM ) , Toyota Motor ( TM ) ,Honda Motor ( HMC ) and Rivian (RIVN) were down 1.3%, 0.5%, 2.7%, 1% and 1.7%, respectively, around 1 p.m. ET. Ford Motor ( F ) shares were up 0.8%.

Price: 369.38, Change: -4.94, Percent Change: -1.32