- A bipartisan group of US lawmakers is introducing legislation to expand the electric vehicle tax credit by 400,000 vehicles per manufacturer.
- The existing tax credit, which is $7500, phases out over 15 months after an automaker hits a cumulative 200,000 in sales of electric vehicles.
- GM’s tax credit was cut on April 1 of this year and Tesla’s tax credit was cut on January 1 of this year.