GM expects some of its EVs to qualify for US tax credit

EPA/JEFF KOWALSKY

General Motors Co. asserted on Friday that some of its electric vehicles will become eligible for a $7,500 tax credit after the government's more rigid guidelines go into force next month.

"We expect a number of our Ultium-based EVs, including the Cadillac LYRIQ and additional EVs launching this year like the Chevrolet Equinox EV SUV and Blazer EV SUV, to qualify for the full $7,500 credit in 2023," the carmaker stated.

The number of cars eligible for the government's revamped tax credit is expected to decline from April 18 due to the measures from the Inflation Reduction Act aimed at boosting the expansion of the domestic EV industry. Currently, 21 vehicle models are eligible for this tax credit.

Baha Breaking News (BBN) / ND