Automakers say 70% of EV models don't qualify for tax credit under Senate bill

Automakers say 70% of EV models don't qualify for tax credit under Senate bill

Automakers say 70% of EV models don't qualify for tax credit under Senate bill The requirements could put a dent in President Biden's plan to have half of all vehicles sold be electric by 2030 Buyers of a majority of electric-vehicle models would not qualify for a $7,500 tax credit under a Democratic proposal in the U.S. Senate. That's according to a group of major automakers. Automakers have been privately concerned about the proposal's requirements for vehicles' batteries and critical-mineral contents to be sourced from the United States. The July 27 proposal by Senators Chuck Schumer and Joe Manchin would make 70% of U.S. electric, plug-in hybrid and fuel-cell EVs ineligible upon passage, according to John Bozzella, heads of the Alliance for Automotive Innovation. AMAZON, RIVIAN START ROLLING OUT ELECTRIC …
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