The Inflation Reduction Act looks to accelerate the adoption of clean vehicles by reforming the related tax credits in a number of key ways. Specifically, the bill does the following.
- Eliminates the 200,000 clean vehicles sold quota per manufacturer.
- Previously, Tesla, GM, and Toyota were all over the 200,000 vehicle threshold and thus ineligible for the tax credit.
- Preserves the existing up to $7,500 tax credit for new qualified vehicles including electric,…