U.S. House plan would give electric vehicles big boost
By David Shepardson
WASHINGTON (Reuters) - A $1.75 trillion Democratic spending proposal could give a big boost to electric vehicles especially to Detroit's Big Three automakers and the U.S. Postal Service.
The House plan boosts electric vehicle credits to up to $12,500 per vehicle, including $4,500 for union-made vehicles and $500 for U.S.-made batteries. Vehicles would have to be made in the United States starting in 2027 to qualify for any credit.
The EV tax credits would cost $15.6 billion over 10 years and disproportionately benefit Detroit's Big Three automakers - General Motors, Ford Motor and Chrysler-parent Stellantis NV - which assemble their U.S.-made vehicles in union-represented plants.
Foreign automakers have harshly criticized the decision to give union-made vehicles a big leg up, while the United Auto Workers union strongly ...
Read More on Datafloq
WASHINGTON (Reuters) - A $1.75 trillion Democratic spending proposal could give a big boost to electric vehicles especially to Detroit's Big Three automakers and the U.S. Postal Service.
The House plan boosts electric vehicle credits to up to $12,500 per vehicle, including $4,500 for union-made vehicles and $500 for U.S.-made batteries. Vehicles would have to be made in the United States starting in 2027 to qualify for any credit.
The EV tax credits would cost $15.6 billion over 10 years and disproportionately benefit Detroit's Big Three automakers - General Motors, Ford Motor and Chrysler-parent Stellantis NV - which assemble their U.S.-made vehicles in union-represented plants.
Foreign automakers have harshly criticized the decision to give union-made vehicles a big leg up, while the United Auto Workers union strongly ...
Read More on Datafloq
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