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EV Tax Credits Are Working—Cutting Them Now Would Be a Costly Mistake

Plug in America

If you already drive an EV, you might wonder, “Why all the fuss about EV tax credits?” Maybe you already took advantage of the federal tax credit or bought your EV without it because you care about tech, climate, or long-term savings. But here’s why those tax credits still matter—and why they’re worth defending.

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Carmax, Carvana, and automotive stakeholders urge U.S. Senate to keep EV tax credits

Plug in America

As we’ve previously explained, cutting the EV tax credits now would be a costly mistake. If the EV tax credits are rolled back: People will lose hundreds of thousands of jobs, and companies will lose billions of dollars in investments. American auto manufacturers will fall behind as the rest of the world transitions to electric.

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China publishes plan to boost fuel-efficient and new energy vehicles and domestic auto industry; targeting 500K PHEVs and EVs in 2015, rising to 2M by 2020

Green Car Congress

2012 Chinese Auto Industry Development Report. The fifth annual report on China’s auto industry—2012 Chinese Auto Industry Development Report—says that the next 20-30 years will be a “critical period” that will see the formation of a global new-energy vehicle industry.

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AlixPartners study finds post-crisis auto industry facing new set of challenges; sales projected below historical levels for foreseeable future

Green Car Congress

AlixPartners also estimates that on-going unemployment and underemployment could cost the auto industry up to 1.5 According to the study, historically, approximately one of every five vehicles sold is financed by home-value appreciation, a ratio that’s likely to decrease with the continuing stagnancy in home values.

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Li-ion battery maker Boston-Power announces $125M in new financing; focus on and support from China

Green Car Congress

Additionally, through its stimulus programs and local industrial policies, the Chinese government is providing a range of grants, low-interest loans and related financial and tax incentives. CEO, Protean Electric and a 32-year auto industry veteran responsible for the development and production of the GM EV-1.

Boston 199
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IHS Automotive forecasts 88.6M unit global light vehicle market in 2015; 2.4% growth

Green Car Congress

in 2014 as a result of industrial overcapacity and weakness in the real estate sector. million units, aided with increased auto finance penetration, fast dealership expansion and government vehicle scrappage programs. For the APAC region in 2015, IHS forecasts that China’s economic growth will decelerate further, to 6.5%

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Tesla launches limited-time 0.99% APR loan rate on U.S. Model Y orders

Teslarati

On Friday night, Tesla launched the promotional financing on its website for the Model Y, offering a 0.99 percent APR interest rate for buyers who finance the electric vehicle (EV) on an order placed by May 31.