News
Jan. 11, 2018
SOURCE: James B. Stewart – New York Times

Yet in the final tax bill Mr. Trump signed in December, there they are: the full panoply of tax incentives for renewable energy, as well as the $7,500 electric vehicle tax credit.

. . . But Tesla has been conspicuously silent on the law. And G.M.’s response has been qualified. A company spokesman, Patrick E. Morrissey, said G.M. supports continuing the electric vehicle credit “as an important customer benefit that can help accelerate the acceptance of electric vehicles,” but added, “We believe additional reform to the E.V. tax credit would help grow the market for of electric vehicles even more.”

That’s because as now structured, the tax credit puts Tesla and G.M. at a competitive disadvantage, especially compared with foreign rivals who are just starting to ramp up electric vehicle sales in the United States. The tax credit begins to phase out after a company sells 200,000 electric vehicles — a threshold both Tesla and G.M. are expected to reach this year.



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