GM EVs Will Qualify For Full $7,500 Tax Credit In 2-3 Years: CEO via insideevs.com
will also have an important contribution when it comes to federal incentives. The Inflation Reduction Act introduces a federal tax credit of up to $7,500 for commercial EVs weighing less than 14,000 pounds .
The incentive will be available to city governments and other fleet operators, with no restrictions on battery sourcing or manufacturing—as opposed to passenger EVs, which are subject to a series of conditions., General Motors believes that there's a"significant opportunity" to benefit from the EV tax credit of up to $45 per kilowatt-hour thanks to battery cell and module production in the United States. GM is currently building four battery cell plants in the US through its.
Barra also said that GM has been working on battery materials and supply contracts to meet a previously announced goal of reaching 1 million units of annual EV capacity in North America in 2025. Many automakers have criticized the battery sourcing provisions in the Inflation Reduction Act and asked the US Treasury for leeway, arguing that securing the battery materials will take time.
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