Does a emp effect electronics it hits forever and does it fry it

I recently received the following question regarding EMP effects: "What will happen to vehicles with electronic ignitions, a Chevy with an ignition module, but they are not hooked to a battery, with no path for electricity to follow, can it do damage? There may not be power on the grid, but what about a generator? Can a drill that was not plugged in still be able to run?"

The short answer is, maybe.