Elections have consequences. Just ask Mitch McConnell, who in 2017 famously snarled, “Winners make policy. Losers go home.” The world has turned and McConnell is no longer king of the hill in the Senate. Instead, Chuck Schumer of New York holds the reins of power in that august body and … [continued]
Governments in Europe and China are trying to speed up the adoption of electric vehicles by offering subsidies and incentives, and it’s working. In Norway, EVs are exempt from taxes, and drivers receive perks such as free parking and reduced tolls. Almost 60 percent of new cars sold in the country in March were fully electric. China’s combination of incentives and mandates is acting as a magnetic force, sucking the global EV industry out of America and Europe and into China, where over a million electric cars were sold in 2018.
In the US, the federal tax credit for electric vehicles has been cut in half from $7,500 to $3,750 for both Tesla and GM. Now, the current administration looks like it’s turning its back on clean cars. In the future, there could be some hope things change. But with the federal tax credit currently winding down, it’s worth investigating what electric car incentives also exist on the state level.
China’s latest electric vehicle subsidy program recently ended, back in December, but now it looks like a new program to replace is already on the fast track to approval. BYD chairman Wang Chuanfu was quoted as saying that a new program could be implemented as soon as April. Details of … [continued]
