(Finance) – Facilitating the energy transition with a particular focus on the automotive sector. This is what the‘Inflation Reduction Actthe plan from 369 billion dollars approved yesterday by the US Senate.
The decision comes at a time when electric vehicle sales have hit record highs. There General Motors – according to data released by the Washington Post – since 2019 it has sold 70 thousand plug-in vehicles while Tesla has reached an annual rate of almost one million cars sold globally. Orders are also piling up for electric versions of the GM Hummer, Volkswagen minivan and Ford’s Mustang, among others.
While the business is solid, the plan approved by the US Senate will inject 36 billion dollars to incentivize the purchase of electric cars over the next ten years.
In detail, American consumers will be able to request the $ 7,500 credit for a fully electric motor if manufacturers replace Chinese batteries by 2024 and minerals from China and other countries where there are no free trade agreements by 2025. However, according to auto companies, these deadlines are impossible to meet.
The evaluation of incentives for electric cars provided for in the plan it is, in any case, positive overall. GM – which is investing $ 15.7 billion to convert much of its entire fleet to electric and is counting on Congressional support – and other automakers have, in fact, said they have ambitious plans to boost EV sales.
(Photo: Carlee Dittemore / Unsplash)