Browsing: tax credits

US Congress approves legislation ending $7,500 tax credits for new electric vehicles and $4,000 credit for used EVs by September 30

The expiration of federal tax credits for electric vehicles is set to have far-reaching impacts on the automotive industry, affecting both dealerships and manufacturers.

Research from Carnegie Mellon University’s Tepper School of Business suggests that investing in EV charging infrastructure is more effective than tax incentives for promoting electric vehicle adoption

Congress is poised to eliminate federal EV tax credits as part of a new tax and budget proposal, potentially ending incentives for electric vehicle purchases.

EV sales dropped 5% in April despite a 10% growth in the overall car market, as consumers weighed factors like utility, price, and potential policy changes.

New York State is promoting the adoption of electric vehicles with significant incentives

The future of federal tax credits for electric vehicles is uncertain, as the incoming administration has expressed plans to roll back these incentives. The fate of the credit, which currently offers up to $7,500, hangs in the balance.

Duke Energy is providing new incentives for Florida customers who install EV charging stations and use off-peak hours. This comes as EV sales are growing and the federal government’s tax credits for EVs are uncertain.

Despite potential tariff increases and political uncertainty, several factors make now an opportune moment to purchase an EV.

Hyundai has made a massive investment in electric vehicle production in Georgia, but a potential rollback of EV tax credits could significantly impact the company’s plans.