GM Announces EV Tax Break Save
Automaker says it will essentially replace $7,500 federal credits that some of its models no longer qualify for.
GM has said its Chevrolet Blazer EV, as well as the Cadillac Lyriq, are no longer eligible for the federal tax credit but that its Chevrolet Bolt EV continues to qualify.
IMAGE: General Motors
General Motors will make up for the electric vehicles that fell off the federal government’s list of models qualifying for tax credits.
The Detroit automaker told dealers it will furnish $7,500 incentives for EVs that no longer qualify for the biggest federal tax incentive, according to news reports.
The U.S. treasury department recently narrowed qualifications for the incentives to models whose parts aren’t sourced in certain overseas markets, particularly China, which the Biden administration has worked to distance U.S. supplies from.
GM has said its Cadillac Lyriq and Chevrolet Blazer are no longer eligible but that its Chevrolet Bolt EV will continue to qualify.
Originally posted on Auto Dealer Today
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