Major Automakers Retreat from EV Tax Credit Extensions Amid Industry Challenges
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reversed its plan to extend EV lease discounts, and nearly $1.1 billion in federal grants to GM and Stellantis may be rescinded due to funding cancellations.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.
