Posts Tagged ‘EV tax credit’

GM Boosting Bolt EV Production as Demand Surges

CEO Barra asking Congress to expand electric-car tax credits.

by on Mar.08, 2018

There's significant room to expand Chevy Bolt EV production at GM's Orion Assembly Plant.

General Motors plans to expand production of its first long-range battery-car, the Chevrolet Bolt EV, CEO Mary Barra said during an energy conference in Houston.

The Bolt has experienced stronger than expected demand in recent months, some analysts suggesting that is the result of the slow ramp-up of production for Tesla’s own mainstream EV, the Model 3.

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Demand has also been buoyed by $7,500 federal tax credits that bring the base price of the Bolt down below $30,000. But under the current rules, GM is expected to soon see the credits phase out, something that could cut into demand, leading Barra to say that, “We feel tax credits should be expanded so our customers continue to receive the benefits going forward.”


EV Buyers Given Lucrative Reprieve by Congress

But tax credits may soon run out for some automakers, anyway.

by on Dec.20, 2017

GM CEO Mary Barra has been pushing to keep the EV tax credit as lawmakers have been looking for ways to cut it.

While there remain plenty of questions about the impact of the new Congressional tax bill, it looks like electric vehicle buyers – and manufacturers – have reason to be pleased.

The joint bill agreed to by House and Senate Republicans scuttles a proposal that would have eliminated the tax credits of up to $7,500 available to buyers of qualified vehicles such as the Nissan Leaf , Tesla Model 3 and Chevrolet Bolt EV. Automakers and other proponents had feared that ending the credits might have short-circuited the EV market just as a flood of new offerings were set to charge into showrooms.

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“Repealing that credit (would) have an impact because it changes the equation that determines whether people want an electric vehicle,” General Motors CEO Mary Barra said last week during a meeting with automotive journalists. (more…)

EV Credit Survives New Tax Reform Process

Keeping credit expected to help improve sales.

by on Dec.15, 2017

GM CEO Mary Barra has been pushing to keep the EV tax credit as lawmakers have been looking for ways to cut it.

After banging the drum asking for minimal changes to NAFTA for months and not being heard, it appears their similar efforts on tax credits for electric vehicle buyers were heard by the U.S. House of Representatives.

Automotive News reported that U.S. House and Senate negotiators are keeping the electric-vehicle tax credit as part of a compromise package on tax reform, according to a Republican familiar with process.

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In early iterations of the $1.5 trillion House tax bill, the $7,500 electric-vehicle tax credit was eliminated, causing auto industry leaders to push back on its elimination and demand it be left in place. (more…)