President, Congressman aim to drive EVs forward

obama-state-of-unionPolitical support for electric cars continues to grow in the U.S. After President Obama reiterated his goal of getting 1 million more electric cars on America’s roads by 2015 in his State of the Union address, U.S. Representative, Sander M. Levin, D-Mich., has introduced a bill that would more than double the number of plug-in vehicles eligible for the $7,500 tax credit from 200,000 to 500,000, according to USA Today.

Increasing the number of EVs eligible for the federal tax credit would make them more affordable to consumers for a longer time period and potentially increase demand as well as profitability for manufacturers.

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In a press release, Rep. Levin expressed worry that if the Federal Government does not support the technological revolution of changing transportation to EVs, that other competing countries such as China and India will build them instead.

Currently, the $7,500 tax credit is available to buyers but only until a manufacturer sells 200,000 vehicles. Five vehicles including the Nissan Leaf, which is currently selling for $32,780, as well as the Chevrolet Volt, which is listed for $41,000, are currently eligible.

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