Lifting the sales cap stifle competition of the start up EV vehicle companies? Create a “level” playing field? Take the place of manufacturers incentives hat have disappeared in the last few years…as vehicle prices have mooned?
DETROIT – The CEOs of General Motors, Ford Motor, Chrysler parent Stellantis and Toyota Motor North America are urging Congress to lift the federal government’s cap on the number of vehicles that are eligible for a tax credit of up to $7,500, a move they say will encourage consumer adoption of the cars and trucks.
In a joint letter Monday to congressional leaders, the executives say the credit, which begins phasing out once a company sells 200,000 plug-in electric vehicles, is essential to keep the vehicles affordable as production and commodity costs rise.
For years, GM CEO Mary Barra and other executives with the Detroit automaker have urged that the cap to be lifted to create a level playing field. They say the current policy penalizes early adopters of the technologies.
“Eliminating the cap will incentivize consumer adoption of future electrified options,” the letter states.
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