ICEs didn't require any subsidies to effectively make horse-and-buggy obsolete within years, despite the fact that prior to the introduction of the Ford Model T there were few paved roads and few gas stations.
We live in a global economy and US companies will move in a heartbeat to another country with cheaper labor. China and S. Korea and now Vietnam heavily subsidizes their EV industry. Way more than what we do. If we do not subsidize our home grown EV industry these countries will become the leaders and we will have to buy the technology and products from them.
Same argument from the isolationist today. "Our Founding fathers said to keep out of foreign entanglements" Well George and crew did not have to deal with intercontinental ballistic missiles, cyber attacks from 3500 miles away from rogue nations.