8 months ago
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Federal EV tax credits in the US officially came to an end yesterday.
Those credits, expanded and extended in the 2022 Inflation Reduction Act, gave drivers up to $7,500 toward the purchase of a new electric vehicle. They’ve been a major force in cutting the up-front costs of EVs, pushing more people toward purchasing them and giving automakers confidence that demand would be strong.
The tax credits’ demise comes at a time when battery-electric vehicles still make up a small percentage of new vehicle sales in the country. So what’s next for the US EV market?
—Casey Crownhart
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