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Toyota, Honda Oppose U.S. House Electric Vehicle Tax Plan (2) (1)

Toyota, Honda Oppose U.S. House Electric Vehicle Tax Plan

Toyota, Honda Oppose U.S. House Electric Vehicle Tax Plan


Toyota, Honda Oppose U.S. House Electric Vehicle Tax Plan

Toyota and Honda are against a law that would make electric cars cheaper. It would give $12,500 to union cars and $7,500 to other electric cars. This isn’t good for companies like Tesla and Honda because they don’t have unions in their factories.

Dan Kildee, a US Representative, told Reuters that we want to incentivize electric vehicles. If we do this, American manufacturers will be in the lead, and they will also reduce emissions faster than any other policy. The president has said that electric cars should make up at least half of all car sales in the US by 2030.

In a statement, Honda said that the bill was unfair and that it “discriminates among EVs made by hard-working American auto workers.” The company noted that Honda has plants in Alabama, Indiana, and Ohio that build EVs. It said those workers deserve fair and equal treatment by Congress.

Toyota told Reuters that the bill as written does not give cars to people who cannot afford to pay a lot of money. Toyota said it would fight this so people can get cars at a price they can afford.

Toyota, Honda Oppose U.S. House Electric Vehicle Tax Plan (1)

Automakers were initially exempt from a $7,500 tax credit for plug-in vehicles under an annual spending bill approved by the Senate. The House version of the same bill includes language that would repeal credits after a manufacturer surpasses 200,000 plug-in vehicles sold. Tesla and General Motors already have passed that threshold. The change could hurt Toyota and Honda, which only produce hybrid cars and aren’t likely to meet that limit for several years. Opposition from automakers helped kill similar proposals in 2014 and 2015. It’s unclear whether House members will consider extending tax credits to more automakers as they work on reconciling differences between their two versions of the legislation.

The U.S. House is about to make life harder for all automakers selling electric vehicles in the country. A new proposal would eliminate existing benefits for plug-in car owners, including the federal tax credit that comes with it. There would be exceptions for legacy carmakers that only produce gasoline vehicles, however. Toyota and Honda are the first to object to this plan. The House wants to stop automakers after General Motors sells 200,000 electric cars in the country. It also imposes a new tax on battery cells and packs starting in 2018. Built EVs would be 100% exempted from this fee.

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