Exclusive-US automaker CEOs, Toyota urge Congress to lift EV tax credit cap

13/6/2022 5:26:00 PM

Exclusive-US automaker CEOs, Toyota urge Congress to lift EV tax credit cap

Exclusive-US automaker CEOs, Toyota urge Congress to lift EV tax credit cap

WASHINGTON : The chief executives of General Motors Co, Ford Motor Co, Chrysler-parent Stellantis NV and Toyota Motor North America on Monday urged Congress to lift a cap on the $7,500 electric vehicle tax credit, saying it will 'provide much-needed certainty to our customers and domestic workforce,' according t

WASHINGTON : The chief executives of General Motors Co, Ford Motor Co, Chrysler-parent Stellantis NV and Toyota Motor North America on Monday urged Congress to lift a cap on the $7,500 electric vehicle tax credit, saying it will"provide much-needed certainty to our customers and domestic workforce," according to a letter seen by Reuters.

The automakers said in the letter to congressional leaders that they have pledged to invest over $170 billion through 2030 to bolster electric vehicles’ development, production and sale. The current $7,500 tax credit phases out after a manufacturer hits 200,000 vehicles sold. Both GM and Tesla have already hit the cap and are no longer eligible for the consumer tax credits.

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LinkedIn WASHINGTON : The chief executives of General Motors Co, Ford Motor Co, Chrysler-parent Stellantis NV and Toyota Motor North America on Monday urged Congress to lift a cap on the $7,500 electric vehicle tax credit, saying it will"provide much-needed certainty to our customers and domestic workforce," according to a letter seen by Reuters.LinkedIn :Toyota won the 24 Hours of Le Mans for the fifth year in a row on Sunday with New Zealand's Brendon Hartley taking the chequered flag to become a triple champion.Ageing infotainment system and cockpit More expensive than similar cars The Toyota Alphard has never been small, uncomfortable, cheap, or efficient.Copy to clipboard https://str.

The automakers said in the letter to congressional leaders that they have pledged to invest over $170 billion through 2030 to bolster electric vehicles’ development, production and sale. The current $7,500 tax credit phases out after a manufacturer hits 200,000 vehicles sold. The number seven Toyota, crewed by last year's winners Mike Conway of Britain, Japan's Kamui Kobayashi and Argentina's Jose Maria Lopez, secured the predictable one-two finish at the Sarthe circuit. Both GM and Tesla have already hit the cap and are no longer eligible for the consumer tax credits. The petrol-electric model might not be news to some here— the Alphard and its sister model the Vellfire have both been produced as hybrids since the second-generation in 2008, and sold here as grey/parallel imports. Source: Reuters . Hartley won Le Mans in 2017 with Porsche and in 2020 with Toyota when he took the place of Spain's two times Formula One world champion and double Le Mans winner Fernando Alonso.