On Friday, Plug In America commended President Joe Biden’s administration for its work to make electric vehicles (EVs) accessible and affordable.
The non-profit organization of EV drivers said the administration’s efforts to make EVs more appealing to American drivers and its work developing the clean vehicle supply chain have helped get more EVs on the roads.
“There is a sense of urgency to get electric vehicles on the roads as quickly as possible to tackle the climate crisis. Every passenger EV that replaces a gasoline car eliminates 4.6 metric tons of carbon dioxide annually,” the group said. “There is also an imperative to develop our nation’s supply chain for clean vehicles responsibly and ethically. The proposed rule successfully supports rapid EV adoption while building our country’s domestic supply chain.”
The group made its announcement on the day the U.S. Department of Treasury and the U.S. Internal Revenue Service provided updated guidance for federal EV tax credits created by the Inflation Reduction Act that will go into effect on April 18.
As part of the Inflation Reduction Act, owners of new light-duty EVs built in America will get up to a $7,500 tax credit per vehicle. Additionally, used EVs will be eligible for tax credits of up to $4,000 or 30 percent of the sales price, whichever is lower. The sales price must be less than $25,000, and the vehicle must be at least two years old, officials said. Additionally, income caps on owners will apply.