TL;DR: EV cars & SUVs will face an average 16% effective price increase, with the lowest cost model up more than 28%, if the law passes the Senate and goes into effect as written.
It’s hard to imagine any way this doesn’t throw a huge wrench into the adoption of sustainable car technology for the USA.
Only about 8% of new cars sold last year in the USA were electric, compared to 13% for the EU or 25% for China. Seems like exactly the wrong moment to cut tax incentives for the tech.
7% of our exports are currently vehicles (about $145b annually), that will dwindle to nearly nothing as ICE vehicles become a legacy side-show to EVs and PHEVs :,|
That’s to say nothing of serving our own market, and the pride of having Americans at work building brilliant and cutting edge things.
GUH, I GOTTA STOP READING THE NEWS.