The Inflation Reduction Act rewrites the rules regarding electric vehicle tax credits and adds restrictions on maximum sale prices and income eligibility.
and plug-in hybrid vehicles that are currently available will be made ineligible right off the bat, and that number could potentially drop to zero as the industry works to update its supply chain to meet the new regulations.
"The $7500 credit might exist on paper, but no vehicles will qualify for this purchase incentive over the next few years. That’s going to be a major setback to our collective target of 40-50 percent electric vehicle sales by 2030," Bozzella wrote on the group’s website.
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