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Tuesday, 21 June 2022 10:42

Electric Automakers Make Last-Ditch Plea for More Tax Credits Before U.S. Election

Written by David Shepardson and Tina Bellon, Reuters

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Shifting political winds during the U.S. November mid-term elections could spell trouble for automakers' hopes of getting billions of dollars in consumer tax credits that would help the U.S. compete with Chinese and European rivals.

General Motors Co., Ford Motor Co., Chrysler-parent Stellantis NV and Toyota Motor Corp. have pledged to invest more than $170 billion through 2030 to bolster EV development, production and sales.

 

Automakers are making a furious last-ditch effort to convince Congress to approve an extension of EV incentives before Republicans, who are largely opposed to doling out EV subsidies, could potentially take over both houses of Congress next year.

 

To read more, see Reuters.