US EV Tax-Credits To End For New Toyota Car Buyers


The customers of Toyota will soon not be able for getting the federal tax credits of the United States for the purpose of purchasing the electric hybrid vehicles. Bob Carter, North American sales head of Toyota said, the automobile company is expecting that, sometime before the end of June 2022, the company will be reaching a 200,000 vehicle cap on the credits.

After that, the credits are going to be removed over the upcoming year and reaching net zero as the companies including General Motors and Tesla, which already have.

The lack of the tax credits has been problematic for the automobile companies, who have been shifting from the vehicles powered by petrol to the batteries in the effort for the purpose decreasing the carbon emissions and meeting the fuel economy standards of the government and also fighting the climate change.

Toyota has also lobbied against the additional credit only for the union plant, which has been calling it unfair to the non-union workers and the company also said that, it just needs to be a level playing field, and they are not the anti-electric vehicle credits. Toyota is also planning for offering 30 fully electric vehicles from the company’s Lexus and the Toyota brands by the year 2030.


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