White House aims to end subsidies for electric cars



Based on Reuters, White House economic adviser Larry Kudlow explained that the Trump administration wants to end subsidies for electric cars and other things, including renewable energy resources.  “As a matter of our policy, we wish to finish all those subsidies,” Kudlow explained. “And by the way subsidies that were enforced during the Obama administration, we’re ending, if it’s for renewables and so on. ”

No timeline was given.  “It’s just going to finish in the near future,” Kudlow explained. “I don’t know if it is going to finish in 2021 or 2020. ”

Credits for vehicles range based on the vehicle ’s dimensions and battery capability – but they are restricted at 200,000 vehicles per manufacturer. Tesla had struck on that threshold in July 2018.  About January 1, 2019, the charge is halved for its initial six months and further reduced to $1,875.  The charge will expire for Tesla customers in January 2020.

Additional automakers still have a few years before their EV earnings reach the quota.

Tesla and GM have lobbied Congress for months make changes to lift the cap on electric vehicles. With all the Democrats taking control of the U.S. House at January 2019, there’s expectation in the industry that subsidies for electric cars will last to be provided, along with new incentives.

In October, Senator Dean Heller suggested lifting the cap on electric vehicles qualified for tax credits but phase out the charge for the whole business in 2022. Two senators in September suggested extending the advantage for a decade and lifting the maker credit.

The post White House aims to end subsidies for electric automobiles appeared on BMW BLOG

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