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· Nissan and Ford Motor are the next
nearest manufacturers close to tapping out on credits
Toyota Motor Corp (NYSE: TM) sold its 200,000th electric
vehicle during the second quarter, making the automaker eligible for phaseout
of the US tax credit.
The Japanese company becomes the third automaker after Tesla
Inc and General Motors Co (NYSE: GM) to become eligible for the phaseout
of the credit for future consumers.
In June, CEOs of Ford Motor Co (NYSE: F), General
Motors and Stellantis (NYSE: STLA) had urged lawmakers to lift the federal government’s cap on the number of vehicles that are eligible for a tax credit
of up to $7,500 saying that credit is essential to keep the vehicles affordable
as production and commodity costs rise.
According to Bloomberg News, Nissan and Ford
Motor are the next nearest manufacturers close to tapping out on credits.
Picture Credits: CNBC
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