California governor Gavin Newsom (D.) proposed a multibillion-dollar coronavirus relief package that includes a $1.5 billion carveout for the electric-car industry—a longtime priority for the liberal governor.
Electric plug-in vehicles, such as the Chevrolet Volt, will achieve the affordability of a traditional car in 2020, but only if the government cements a $7,500 tax credit for the vehicles, a Congressional Budget Office (CBO) analyst said on Monday.
The U.S. and Germany have quietly walked back their ambitious goal to put 1 million electric vehicles on the road in their respective countries, despite considerable government subsidies and consumer incentives.
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