When General Motors announced plant closings and a 15% workforce cut, the plan was to plow savings into electric and autonomous vehicle development, which is seen as the industry’s future.
But selling electric vehicles (EVs) will get tough without a $7,500 credit that the Trump Administration has said will end. Now GM is fighting to keep the consumer tax credit, reported the Associated Press.
Many Republicans say the credit is a subsidy that wastes taxpayer money. The law that provides the credit caps its use when a manufacturer has sold 200,000 vehicles, a number that GM (GM, -1.61%) is close to reaching.