No More Tax Credit for Buying An EV? Ford, GM and Others Get Ready for Changes in the EV Market

Douglas McIntyre, Editor-in-Chief at Climate Crisis, highlights the challenges facing U.S. car companies like Ford and GM due to new EV tax credit regulations. The $7,500 credit, critical for making EVs more affordable, is being eliminated, potentially reducing consumer interest. With EV prices averaging $55,000 compared to $45,000 for gas-powered cars, and gasoline prices down to $3 per gallon, incentives for switching to EVs are weakening. This shift is a major setback for automakers heavily invested in EV programs.