April 22, 2024


Unlimited Technology

Democrats’ Electric Vehicle Push Could Give GM, Ford, Stellantis EV Sales Edge

WASHINGTON DC – Democrats’ effort to spur electric vehicle (EV) adoption has set off an intense lobbying battle on Capitol Hill as car manufacturers jockey for influence over legislation that will shape the industry’s future.

Automakers generally back President Biden’s green energy plan, which would spend billions of government dollars to construct charging stations across the nation and expand incentives that lessen the cost of buying an EV. But they’re sharply divided over a key tax credit component of the proposal.

Under the legislation advanced by the House Ways and Means Committee last month, most EVs would qualify for a $7,500 tax credit. But union-built EVs assembled in the U.S. would receive an additional $4,500 in credits.

Only Ford, General Motors and Stellantis, Chrysler’s parent company, would benefit from the extra incentive, as union workers assemble most of their EVs in U.S. plants. The proposal effectively leaves other automakers, including Tesla, the nation’s main EV manufacturer, at a $4,500 per vehicle disadvantage.

To read more, click on https://thehill.com/policy/transportation/infrastructure/575990-democrats-electric-vehicle-push-sparks-intense-lobbying?rl=1

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