It is way deeper than US consumer incentives. Manufacturers are getting bucks from many governments and some are double dipping the US government. All this distorts free markets.Most EVs sold did not get a tax credit. Before the Inflation *** Act, the first 200,000 cars sold by a manufacturer qualified for one. Tesla is selling over 900K cars a year.
There is a lot of demand for the EVs beyond the tax credits. Today a lot of them don't qualify even under the new guidelines in the stupid IR Act.
“U.S. Sen. John Thune (R-S.D.) recently introduced the Ending Duplicative Subsidies for Electric Vehicles Act, legislation that would prohibit the automobile industry from double-dipping on federal subsidies, specifically electric vehicle (EV) tax credits, grants, and loans for EV manufacturing. The bill would require stakeholders to choose between receiving manufacturing loans or grants to lower the cost of EV production or having the vehicles they manufacture remain eligible for the new EV credits under the so-called “Inflation Reduction Act” (IRA).”
Thune Introduces Bill to Stop Automakers From Double-Dipping in Electric Vehicle Subsidies
WASHINGTON — U.S. Sen. John Thune (R-S.D.) recently introduced the Ending Duplicative Subsidies for Electric Vehicles Act, legislation that would prohibit the automobile industry from double-dipping on federal subsidies, specifically electric vehicle (EV) tax credits, grants, and loans for EV...
www.thune.senate.gov