OEMs Want to Extend EV Subsidies
June 15, 2022—Automakers includes General Motors, Ford, Toyota and Stellantis want U.S. lawmakers to expand the eligibility window $7,500 tax credit for consumer electric vehicle purchases.
Reuters reports that the automakers sent a joint letter to members of Congress, hoping they would lift a limit that cuts the tax credit after an OEM reached 200,000 units sold. GM and Tesla have reached that limit.
President Joe Biden has floated the idea to increase tax credits with additional incentives for union-made vehicles from U.S. assembly plants.