GM vs Tesla — Who Will Reach 200,000 US Electric Car Sales 1st?
Sometime in early 2018, the EV community in the U.S. will buzz about the specific clauses in the Internal Revenue Service section code IRC 30D, better known as the “Plug-In Electric Drive Vehicle Credit.” That’s the code that allows for up to $7,500 off on federal taxes for the purchase of a new electric vehicle. It’s one that has a “sunset” clause that is specific to each vehicle manufacturer’s success. Once each manufacturer (OEM) reaches 200,000 cumulative U.S. sales of all of its EVs (from 2010 onward) the phaseout process begins. So, the more EVs an OEM sells, the quicker the credit will sunset. That mean the OEM that wins, is first to lose, but has actually won (because of their success).