"Electric car tax credits that apply to manufacturers instead of consumers may play a large role in the EV revolution in America" Steve Hanley, Technology and Sustainability. Video credits to Zach Shefska, Ray and Justin Fischer!
And the good is not stopping there. As reported, everything from USA made EV batteries to tax credit policy changes in the works, Steve Hanley reminds us to take heart, have a little faith in we long-time EV advocates that know everything needs a bit of tweaking before hitting the road.
Incentives by Steve Hanley
But take heart, electric car advocates. There are parts of the IRA that will help lower prices for all EVs — provided critical components that go into them are sourced from within the United States. According to Axios, the IRA provides a tax credit of $35 per kWh for each US-produced lithium-ion battery cell.
Assuming an average cost today of $100 per kWh, that provision alone just sliced 35% off the cost of making a battery cell in America.
Axios points out that Ford could get a $3 billion tax break from the two battery factories it is building in Kentucky, which will be able to produce 86 GWh of batteries annually. GM will reap similar benefits for the four factories it is building with LG Energy Solution, which includes a new location in Indiana.
So, let's take a page from history, apply it now and write the next century of cleaner, Greener transportation.
Image from Auto Archives, established in 1929
Tax credit video from the younger generation and credits to Zach Shefska, Ray Shefska and