Posted on 12/29/2022 8:53:45 AM PST by Oldeconomybuyer
(Reuters) - The United States will introduce incentives on Jan. 1 for delivery firms and other companies to switch to electric trucks as part of a broad push to get polluting, workhorse vehicles off roads and out of neighborhoods.
The first-of-its-kind incentives, established under President Joe Biden's Inflation Reduction Act (IRA), will offer tax credits of $7,500 or $40,000 depending on the size of the electric vehicle (EV). Delivery companies like FedEx and Amazon.com would qualify at the $7,500 level for many of their electric trucks.
In a year marked by yet more floods, hurricanes and droughts linked to climate change, governments and companies have been forced to look more closely at the financial risks and their exposure to liability.
Incentives should help bring EV sticker prices closer to parity with traditional gas-powered vehicles, experts said.
That will "help level the playing field for electric vehicles," said Ben King, associate director at Rhodium Group, a research firm.
Jim Farley, chief executive at electric van market leader Ford Motor Co, this year predicted that IRA tax credits would have a "dramatic impact on the adoption of EVs."
More commercial EV purchases should lower manufacturing costs and vehicle sticker prices - which should attract even more buyers, experts said.
(Excerpt) Read more at news.yahoo.com ...
Just when you think France has the biggest EV junk yard Biden want to show off his skills.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.