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New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

Green Car Congress

US Senators Debbie Stabenow (D-MI), Lamar Alexander (R-TN), Gary Peters (D-MI), and Susan Collins (R-ME) along with Congressman Dan Kildee (MI-05) introduced the Driving America Forward Act, bipartisan legislation to expand the electric vehicle and hydrogen fuel cell tax credits. ITC Holdings Corp.,

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GM is giving a $7,500 incentive on EV models that lost tax credit eligibility

Baua Electric

GM is offering a $7,500 incentive for EVs that lost eligibility for the EV tax credit. This comes after several GM electric models were excluded, starting this week. According to GM, the setback is only temporary due to “two minor components” in the EV models. Until then, GM will fill in the gap for buyers.

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Chevy Blazer EV stop-sale ends with drastically lower prices, full tax credit eligibility

Baua Electric

With drastically lower starting prices, the Blazer EV now starts at just over $50,000 and qualifies for the full $7,500 federal tax credit. Chevy said the stop-sale was non-safety-related and affected a limited number of vehicles. Last month, GM’s CEO Mary Barra confirmed Chevy Blazer EV sales were still halted.

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Chevy’s Bolt EV is a steal at under $20,000 using the IRS tax credit upfront

Baua Electric

Electric vehicles for under $20,000 are already here. You can score a 2023 Chevy Bolt EV for under $20,000 with new IRS rules allowing you to use the tax credit as a down payment. Chevy Bolt EV (Source: GM) Chevy ended Bolt EV production at the end of the year as it focuses on ramping up its Ultium-based models.

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Hyundai says its first EV plant will open this year to gain the $7,500 tax credit

Baua Electric

According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit. With a $7,500 tax credit on the line, Hyundai has pulled the timeline forward as quickly as possible. Munoz said EVs produced at the new plant will qualify for the tax credit.

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Proposed Federal EV Tax Credit Reform: Will It Move the Sales Needle?

EV Adoption

For electric vehicle observers, the legislation contains two key provisions: The first would extend the tax credit to automakers who already reached the current phaseout level of 200,000 EVs sold with another 400,000 vehicles, but with a reduction to $7,000 from the current maximum $7,500 credit.

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Sun Tzu & The Art Of The EV Tax Credit: How To Not Get Ripped Off By Dealers (Part 1)

CleanTechnica EVs

So, I may be getting ahead of myself by discussing upcoming EV tax credits. As currently written, they’d give GM and Tesla buyers access to the tax credits again, but give US-made and […].