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GM says it expects some EVs to receive $7,500 U.S. tax credits
© Reuters. FILE PHOTO: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio/File Photo/File Photo/File Photo
WASHINGTON (Reuters) – General Motors Co (NYSE:) said Friday it expects some electric vehicles will qualify for $7,500 U.S. tax credits after stricter Treasury Department guidance takes effect April 18.
“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,” GM said in a statement.
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