"GM Counters Reduced EV Tax Credits with $7500 Discounts on Select Models"

General Motors (GM) is offering a $7,500 discount on certain electric vehicles (EVs) to offset the temporary loss of the federal EV tax credit for models like the Cadillac Lyriq and Chevrolet Blazer EV due to component qualifications. The Chevrolet Bolt will retain the full credit, while GM plans to adjust sourcing to regain eligibility for other models. The EV tax credit landscape has changed significantly, with only 19 EVs qualifying in the U.S. as of 2024, down from 43 in 2023. The IRS has also updated the process, allowing customers to receive the credit at the point of sale rather than through tax filings.