The Federal $7,500 tax credit was removed for GM vehicles as they attained 200,000 sales.
GM CEO Mary Barra thinks that GM shouldn’t be penalized for being ahead of the curve.
The price paid is that GM customers are no longer eligible for the tax credit. The deal was that automakers are eligible for the $7,500 for the first 200,000 units and once reached, the credit is removed. GM reached the milestone in late 2018 and only partial credits were eligible to GM EV buyers between April 2019 and 2020.
Chevrolet Bolt EV | Photo: Chevrolet
GM CEO Mary Barra that the company and customers are being penalized. Essentially, they (and Tesla) were among the first OEMs to launch mass-production EVs and so were among the first (along with Tesla) to lose access to the tax credit.
Steve Carlisle, president of GM North America, as reported by Automotive News (subscription required), said the automaker is looking to return to a level playing field by asking the Biden administration to reinstate the tax incentives. Remember, GM is on the verge of rolling out numerous EVs in the coming years on its way to going fully electric by 2035.
