GM battle government to retain tax credit for electric cars 1 SHARES Share it! It helps make plug-ins such as the $36,000 Chevy Bolt more affordable at a time when competition from other electric vehicle makers is heating up. Barrasso introduced legislation in October to abolish the tax credit, a move he said would save about $20 billion over the next 10 years. He has argued the market for electric vehicles is already established and “no longer needs the crutch of government assistance.”“The idea of the subsidies had to do with trying to make sure that electric vehicles would be a viable technology,” Barrasso said. Karl Brauer, executive publisher of Autotrader and Kelley Blue Book, said the credit is “hugely important” to electric vehicle manufacturers.

Source: Manila Bulletin December 10, 2018 07:18 UTC