General Motors president Mark Reuss wants the United States to implement a new tax credit for electric vehicles that will extend to used EVs.
Reuss wrote an article on his LinkedIn page this week titled ‘Punching the Accelerator on the Road to EVs’ that outlines the various ways the automotive industry and the government can work to speed up the widespread adoption of electric vehicles. Reuss says “several key policy elements would help the U.S. lead in electrification,” including a new consumer incentive that can be used toward the purchase of a used electric vehicle.
The longtime GM executive also wants the federal government to implement investment tax credits that will incentivize companies to establish EV manufacturing capacity in the U.S. and help build out the U.S. supply chain. He also believes investing in EV infrastructure, such as fast-charging stations in urban areas and along highway corridors, will help give consumers more confidence to buy a battery-powered vehicle.
Buyers of GM EVs can no longer receive the $7,500 federal tax credit, as GM hit the 200,000 unit sales threshold back in 2018. GM previously expressed a desire to see this threshold extended so as to not punish early adopters of EV tech.
GM plans to introduce 30 new EVs globally through to 2025. In North America, these EVs will include the GMC Hummer EV pickup and SUV, Cadillac Lyriq crossover and an unnamed electric Chevy pickup, among others. The automaker has also introduced two new production-ready EVs this year in the way of the 2022 Chevy Bolt EV and 2022 Chevy Bolt EUV.
“2021 is the tipping point toward EVs,” Reuss also said in the LinkedIn post. “That’s what we believe and that’s what I believe – and we are committed to making it happen. And as we all know by now, a lot can happen in a year.”