Recent proposals from House Republicans seek to eliminate the electric-vehicle tax credit for used cars and leases by the end of 2023. While the main tax credit will remain until 2026, it will be significantly reduced. These changes are expected to lead to decreased EV sales, increased vehicle prices, and weakened manufacturing in the U.S. Additionally, insights on General Motors' battery innovations and Toyota's new EV models were discussed, highlighting emerging trends in the EV landscape.
House Republicans advanced a proposal this week to kill the credit for used EVs and electric-car leases by the end of this year.
In short: lower EV sales, more expensive cars and a less vibrant American manufacturing sector.
Lithium-iron-phosphate (LFP) batteries have taken over China because of their cheaper production costs, but the battery supply chain for LFP mostly runs through that country.
We also run down the three (!) new EV models that Toyota announced this week, and debate the quality of the name 'bZ Woodland.'
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