Automakers and Climate Activists Agree on Need for Congress to Extend Electric Vehicle Tax Credits

15 Jun 2022 | Abstracted from Yahoo News

"The CEOs of General Motors, Ford, Chrysler-parent Stellantis NV and Toyota Motor North America signed a joint letter to [Congressional leaders] requesting that the current cap on tax credits be lifted completely and replaced with a time-based limit. The current $7,500 federal income tax credit...phases out after a manufacturer sells 200,000 EVs."

"So far, only Tesla and GM have exceeded the 200,000 electric vehicle threshold..."

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