Reported 7 months ago
The Inflation Reduction Act has led to a significant boost in the electric vehicle (EV) industry, with the US Department of Treasury confirming that more than $1 billion in EV tax credits have been given to buyers at the point of sale in 2024. The Act allows for a $4,000 tax credit for used EV purchases and up to $7,500 for new EV buyers, reflecting the government's efforts to encourage EV adoption and reduce greenhouse gas emissions. Despite these incentives, EV manufacturers are facing challenges in attracting new customers, as highlighted by discussions with executives from Ford and General Motors on the current state of EV adoption.
Source: YAHOO