Electric vehicle stocks tumble as Biden's climate and social plan flops
The proposed EV incentive under Build Back Better included a current $7,500 tax credit to purchase a plug-in electric vehicle as well as $500 if the vehicle's battery is made in the U.S.
It also includes a controversial $4,500 tax credit if the vehicle is assembled domestically with union labor, which has drawn heavy criticism from non-Detroit automakers whose American workers aren't organized., both of which have announced significant investments in electric vehicles.
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