Automakers blitz Congress for less-demanding EV tax credits
That effectively excludes many Rivian models, which cross that price point as options to the vehicles are added, James Chen, vice president of public policy for Rivian, said in an interview. The company has sold roughly 7,000 vehicles, far from the existing 200,000 vehicle cap, but the new limits would take affect starting in 2023.
“We’re making our batteries for our cars to be here, made in America, before you get any credits whatsoever,” Manchin said on CNN Sunday. The deal he eventually agreed to also includes billions in funding for the construction of new clean-vehicle manufacturing facilities and other incentives to help automakers comply.
The underlying legislation, which over all contains some $370 billion in funding for tax credits and other measures to combat climate change, also includes aid to help automakers develop a domestic battery supply chain. It includes as much as $20 billion in loans for the construction of new clean-vehicle manufacturing facilities, $2 billion in grants to retool existing auto-manufacturing facilities to make clean vehicles and a $10 billion investment tax credit to build clean-technology production sites, according to a summary of the bill by the Zero Emission Transportation Association.
“Nearly every part of the effort to secure our supply chain is getting some level of support in the bill,” Joe Britton, the head of the Zero Emission Transportation Association, said in an interview.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Automakers see 'warning signs' as inflation weakens demand for new cars | AutoblogAutomakers report lower demand for new cars in Europe and North America as consumers are balking at higher prices and keeping their cash for necessities.
Read more »
EV Tax Credits Could Be Back for Popular Brands and Used EVs under Proposed LawThe Democrats' Inflation Reduction Act of 2022 would get rid of the 200,000-vehicle limit that stops popular brands from giving EV tax credits, with the $7500 incentives extended through 2032. But can it pass?
Read more »
Senate Proposal Aims to Expand EV Tax Credit LimitThe Senate has moved forward with a proposed bill that could see the federal tax credit limits for EV buyers disappear in an effort to combat China's policy.
Read more »
Gasoline demand in U.S. falls below 2020 lockdown summer | AutoblogAmericans are officially driving less than they did in the summer of 2020 — back when pandemic travel restrictions all but halted movement.
Read more »
$3.2 Million EV Fleet Adoption Financing From Vancity Credit UnionVCIB & 7Gen Partner to Lead the Charge in EV Fleet Adoption
Read more »
We're helping Blipshift kick off the '10 Years of BS' sale with an official Autoblog collabBlipshift is back with the '10 Years of BS' sale and it's starting with an exclusive Autoblog tee design voted for by you.
Read more »