More EVs Will Qualify for Tax Credits After US Reverses Course

Posted on AllSides February 4th, 2023
From The Left
Alex Kraus/Bloomberg

The Biden administration will allow more crossover SUVs to qualify for the newly-revamped electric vehicle tax credit following lobbying by automakers such as General Motors Co. and Stellantis NV.

The change announced Friday by the Treasury Department effectively expands the number of buyers who can take advantage of a lucrative $7,500 consumer tax credit by broadening the definition of how a sport-utility vehicle is defined. The tweak matters because under Democrats’ Inflation Reduction Act, SUVs costing up to $80,000 can receive the tax credits, while passenger-car buyers get nothing if the vehicle...

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https://www.bloomberg.com/news/articles/2023-02-03/more-evs-to-qualify-for-tax-credits-after-us-reverses-course

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