Major Automakers Retreat from EV Tax Credit Extensions Amid Industry Challenges
TL;DR Summary
GM backed out of its EV lease credit plan due to political pushback, while Ford is halting F-150 Lightning production because of aluminum supply issues caused by a fire at Novelis. Additionally, GM has reversed its plan to extend EV lease discounts, and nearly $1.1 billion in federal grants to GM and Stellantis may be rescinded due to funding cancellations. Despite these challenges, more affordable EV options are now available, with prices under $40,000.
- Why General Motors Backed Out Of Its EV Lease Credit Plan InsideEVs
- Exclusive: Ford reverses plan to claim EV tax credits, following GM Reuters
- What’s Ahead for the US Electric Vehicle Industry After Hitting a Massive Speed Bump? Inside Climate News
- Ford joins GM in canceling $7,500 EV lease credit extension Automotive News
- Automakers are getting creative with how to sell EVs in the post-tax credit era Business Insider
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