Biden's Renewed Tax Credits Could Allow GM And Tesla To Decimate The Market

The proposition of renewing the federal EV tax credit for manufacturers that reached the previous limit has raised a lot of interest.

We have two such manufacturers so far - Tesla and General Motors. Their plug-in cars are not eligible for up to $7,500 of the tax credit and have not been for quite some time now.

It's not a particularly good situation when two domestic manufacturers are not getting the major incentive, because they were willing to jump into EVs first in high volume. They are in a disadvantaged position now, until others run out too.