GM says it built about 20,000 EVs that did not qualify for tax credits
Reuters
Published Mar 12, 2024 12:15PM ET
Updated Mar 12, 2024 02:55PM ET
(Fixes typo in headline to qualify from quality, changes date in first paragraph to Tuesday from Wednesday)
WASHINGTON (Reuters) - General Motors (NYSE:GM) said on Tuesday the Detroit automaker built about 20,000 electric vehicles this year that did not qualify for EV tax credits before regaining access after supply chain changes.
GM lost access to EV tax credits for nearly all of its models on Jan. 1 when new battery sourcing rules from the U.S. Treasury made many EVs ineligible. GM has since regained eligibility for many EVs including the Blazer EV and Cadillac Lyriq after it made sourcing changes. GM Chief Financial Officer Paul Jacobson said Wednesday over a 60-day period this year GM built about 20,000 EVs that did not qualify.
(This story has been refiled to fix a typo in the headline and to change the date to Tuesday from Wednesday in paragraph 1)
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Written By: Reuters
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