The article discusses the precarious situation of the $7,500 electric vehicle (EV) tax credit in the U.S., currently threatened by legislation in both the House and Senate. A new megabill in the Senate could terminate the tax credit just 180 days after it becomes law, impacting both new and used EVs. Meanwhile, the House has proposed a bill to extend the tax credit to late 2025 but with conditions. Additionally, the article highlights concerns over falling used Tesla prices and supply chain issues facing China's EV industry.
"The EV tax credit—America's most sacred carrot for advancing the adoption of electrified vehicles—is on the chopping block."
"A new megabill moving through the Senate could kill the clean vehicle credit just 180 days after being signed into law."
"The EV leasing loophole that allows automakers to apply the tax credit to customers who lease otherwise ineligible vehicles would be ended instantly."
"The House of Representatives also has a proposed bill that would kill the EV tax credit at the end of 2025, affecting automakers significantly."
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