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:
Reuters has more info on the meeting that you can read here:
www.reuters.com
"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."
Reuters has more info on the meeting that you can read here:
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White House to host GM, Ford among CEOs at meeting on spending push
The White House plans to host the chief executives of major U.S. companies including auto and tech sector firms on Wednesday to discuss President Joe Biden's signature $1.75 trillion Build Back Better legislation.
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."