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Inflation Reduction Act – How It Supercharges the Electric Vehicle Industry

EV Match

The recently passed Inflation Reduction Act (IRA) is arguably the most significant piece of climate legislation the United States has ever seen, including significant investments in clean energy and consumer incentives to accelerate electric vehicle (EV) adoption. Biden’s signing of the bill into law on August 16, 2022. borders.

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U.S. EV buyers will get the $7,500 tax credit with a few catches

Teslarati

The United States Electric Vehicle Tax Credit is one of the most notable advantages of purchasing a battery-electric car. The rollout of electric vehicles is supported by the current President Joe Biden, who attempted to increase the United States’ EV sales goals of GM, Ford, and Stellantis to 40% by 2030.