tax credits

Biden Administration Defers Credit Awards for EVs

Sources cite EPA concerns over finalizing the intricacies of the EV portion of ruling by the June 14 deadline.

SUV definition changed, opening breaks to Lyric, Tesla Model Y, others.

Without an SUV classification, the Cadillac Lyriq exceeds the price threshold for federal tax credits for EVs.

Automakers have urged Congress to lift a cap on the $7,500 electric vehicle tax credit.

Letter penned by Canadian Trade Minister Mary Ng suggest proposed EV tax credits will harm North American auto industry and violate trade agreements.