Carmakers Push Congress To Extend EV Tax Credit
You know something’s screwy when Joe Manchin kind of makes sense.Top executives from General Motors, Ford, Stellantis, and Toyota have lobbied Congress to lift the 200,000 sold vehicle cap on the $7,500 electric vehicle tax credit, citing higher costs to produce zero-emission vehicles,“We ask that the per- cap be removed, with a sunset date set for a time when the EV market is more mature,” the automakers said in a joint letter,.
The letter comes amid growing concerns among auto industry executives that the window is closing for US Congress to extend electric vehicle tax credits before the coming midterm elections … which, if things weren’t already bad enough, are expected to go badly for Democrats.
Both GM and Tesla have already hit the cap with a mix of products, so buyers of their electric products are no longer eligible to receive the full federal tax credit .
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