Ford and other American automaker CEOs will be meeting with POTUS to discuss EV spending to push for more ownership. Below is a statement from Ford CEO Jim Farley on the meeting:
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Reuters has more info on the meeting that you can read here:
"Biden's proposal would increase the current $7,500 EV tax credit to up to $12,500 for union-made U.S. vehicles as well as creating a credit of up to $4,000 for used vehicles. The bill would also again make GM and Tesla Inc (TSLA.O) eligible for tax credits after they hit the 200,000-vehicle cap on the existing $7,500 credit.


The $4,500 union EV credit has come under heavy criticism from foreign automakers like Toyota (7203.T).

The bill also includes a 30% credit for commercial electric vehicles. Build Back Better would also allocate $3.5 billion for converting U.S. factories for production of electrified or fuel cell vehicles and revive incentives that could generate $3.7 billion for automotive communities by 2031."