Biden Supports Additional EV Tax Credits

[SteveJo]

"$7,500 basic credit, $2,500 credit for vehicles made in America, and an additional $2,500 credit for union-made vehicles."

(353) Biden signs electric car executive order, praises autoworkers - YouTube

https://www.whitehouse.gov/briefing...american-leadership-on-clean-cars-and-trucks/

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[hybrid2bev]

FORD STATEMENTS ON ELECTRIC VEHICLE SALES AND WHITE HOUSE ANNOUNCEMENT
AUG 5, 2021 | DEARBORN, MICH.

Today, Ford Motor Company Executive Chair Bill Ford and CEO Jim Farley released the following statements on Ford’s Electric Vehicle Sales and the White House’s fuel economy announcement:

“It has been said that this generation is the first to feel the impact of climate change, and the last that can do something about it. I am proud that Ford is leading the electric revolution and standing for stronger standards that protect people and the environment as we progress towards a zero-emissions transportation future. Ford has always been a leader in sustainability and our employees continue their tremendous efforts to leave our children and our grandchildren with a cleaner planet.”
- Executive Chair Bill Ford

“Ford is on an ambitious trajectory to lead the electrification revolution -- from being the only full-line American automaker to side with California in favor of stricter greenhouse gas emissions, to electrifying our most iconic and popular vehicles, like the F-150 Lightning, Mustang Mach-E and E-Transit. Customer demand has exceeded our expectations. So, we expect to be well positioned to have fully electric vehicles account for 40 to 50% of our U.S. sales by 2030. We’re counting on strong cooperation among the Biden Administration, Congress and state and local governments, and are doing our part by developing high-quality, zero-emission vehicles that customers want.”
- CEO Jim Farley

Background
Ford is America’s No. 1 auto manufacturer and the only one to stand with California in support of stronger vehicle greenhouse gas emissions standards during the Trump Administration.

We believe that making great vehicles for our customers, protecting the planet and maintaining a strong business are complementary goals. That’s why we’ve committed to investing more than $30 billion in vehicle electrification through 2025, and previously said that we’re planning on at least 40% of our global sales volume being EVs by 2040.

We’re proud to be the first full-line automaker to bring all-electric full-size pickup trucks and commercial vans to customers in the U.S. The E-Transit will be available to customers later this year, the F-150 Lightning will be by mid-2022, and both will be assembled in the U.S. by UAW workers.

Ford is also proud to lead on sustainability. We’re committed to being fully carbon neutral worldwide by 2050, and Ford is the only full-line American automaker to advocate for one national standard to set us on a path to a zero-emissions transportation future in alignment with the Paris Climate Agreement.

We assemble more vehicles and employ more hourly workers in the U.S. than any other automaker. With dealerships in every state, and more than 5,300 U.S.-based supplier sites, we support more than 1 million American jobs.


https://media.ford.com/content/ford...ments-electric-vehicle-sales-white-house.html

 

[Maquis]

All well and good, but I think getting rid of subsidies and special tax breaks for producing fossil fuels would go a lot farther.

 

[snikt]

So would the Mach-E credit remain at $7500 since it's built in Mexico ?

Tesla and GM would be added back in, and at $10,000 it sounds like?

A fully loaded Chevy Bolt would become a $25,000 vehicle

 

[Carsinmyblood]

I'd much prefer that the rebates be needs based.

What's the good in offering up to $7,500 in taxes back if the target audience doesn't pay anywhere near that in taxes? - People driving well used cars.

Or, offer the full $7,500 in yearly chunks until $7,500 is reached.

 

[RickMachE]

So would the Mach-E credit remain at $7500 since it's built in Mexico ?

Tesla and GM would be added back in, and at $10,000 it sounds like?

A fully loaded Chevy Bolt would become a $25,000 vehicle

Correct.

The Ford Lightning will be made in the US and at a union shop, so it should go to $12,500.

 

[Xenotet]

I'd much prefer that the rebates be needs based.

What's the good in offering up to $7,500 in taxes back if the target audience doesn't pay anywhere near that in taxes? - People driving well used cars.

Or, offer the full $7,500 in yearly chunks until $7,500 is reached.

It’s a tax break like you said so they inherently have to pay enough in taxes to write it off

 

[HuntingPudel]

It’s a tax break like you said so they inherently have to pay enough in taxes to write it off

I think what @Carsinmyblood means is the most-polluting cars are in the hands of people who do not make enough to qualify for the full tax credit and if the government wants those off the road, the people with these older less in-tune vehicles need to be given full incentives.

 

[timbop]

I think what @Carsinmyblood means is the most-polluting cars are in the hands of people who do not make enough to qualify for the full tax credit and if the government wants those off the road, the people with these older less in-tune vehicles need to be given full incentives.

Fully agree. I can afford to pay more now in order to get a bunch back next year (and have the tax liability to cover it), but there are way too many who can't and are driving the most pulluting cars.

It would also be FAR more effective to cut exxonmobil and the rest off at the knees and make "cash-on-the-hood" refunds for BEVs come directly from those who are responsible for the FUD and misinformation that has kept the humanity as whole from doing what must be done.

It will never happen though because the politicians that can make it happen get way too much money from the oil companies.

 

[Xenotet]

Fully agree. I can afford to pay more now in order to get a bunch back next year (and have the tax liability to cover it), but there are way too many who can't and are driving the most pulluting cars.

It would also be FAR more effective to cut exxonmobil and the rest off at the knees and make "cash-on-the-hood" refunds for BEVs come directly from those who are responsible for the FUD and misinformation that has kept the humanity as whole from doing what must be done.

It will never happen though because the politicians that can make it happen get way too much money from the oil companies.

Ahh yea that makes sense and really is a great idea. You’d flip the market very quickly that way

 

[JoeDimwit]

So would the Mach-E credit remain at $7500 since it's built in Mexico ?

Tesla and GM would be added back in, and at $10,000 it sounds like?

A fully loaded Chevy Bolt would become a $25,000 vehicle

Not likely. Far more likely, the price of the Bolt will go up $2500.

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