GM Pushes for Electric Car Tax Credits

Chevy Volt

CBJ — General Motors CEO Mary Barra has called on the U.S. Congress to expand a consumer tax credit for electric vehicles as the automaker said it would boost production of its EV Chevrolet Bolt in response to strong demand.

Barra also called on U.S. regulators to take into account when scoring automakers’ emissions the potential for autonomous ridesharing vehicles to reduce carbon dioxide emissions and petroleum consumption. The Trump administration is currently reviewing whether Obama administration emissions standards that called for roughly doubling average U.S. vehicle fuel efficiency by 2025 are appropriate.

GM has sold more than 160,000 plug-in and full-electric vehicles eligible for the credit. The $7,500 consumer tax credit phases out over a 12-month-period soon after an automaker hits the 200,000 mark and the largest U.S. automaker is expected to hit the mark later this year. The tax credit is aimed at helping defray the cost of pricier electric vehicles.

Introduced in October 2016, the Bolt was the first mass-produced electric vehicle to go more than 200 miles (320 km) between charges, and sell at a sticker price of under $40,000.

GM sold about 26,000 Bolt EVs worldwide last year, mostly in the United States.


1.25 per cent