Republicans introduce bill that would hand US EV lead to China Electrek.co
News Source : Electrek
News Summary
- The Inflation Reduction Act included hundreds of billions of dollars of climate spending, much of which was allocated to EV tax credits
- These credits were an extension and expansion of the $7,500 EV tax credit first introduced in 2008
- Those credits were limited to 200,000 cars per manufacturer, a cap which some manufacturers had hit and more were going to hit
Republicans have introduced a bill to eliminate the US EV tax credit in the Inflation Reduction Act, with the effect of slowing US progress on EV manufacturing, thus handing the lead in EV manufactur [+6384 chars]
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