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Tesla and GM push new EV tax credit

Several automakers are joining with electric vehicle charging companies and others in a new coalition urging Congress to expand availability of $7,500 consumer tax credits for buying EVs.

Why it matters: Rollout of the EV Drive Coalition comes as Tesla, GM and Nissan — who are all members — have hit or are approaching the cap of 200,000 vehicles per manufacturer before the credit drops in value and then phases out.

Details: The group's 15 announced supporters also include...

  • Charging networks ChargePoint and Volta.
  • Electric bus maker Proterra.
  • The Christian Coalition of America.
  • The Center for Climate and Energy Solutions.

What they're saying: The group's broad-brush proposal calls for lifting the per-manufacturer cap and ensuring that "future caps neither penalize market leaders nor shut out later arrivals to the EV market."

  • The proposal "allows the credit to sunset once the nascent EV industry has had additional time to mature and grow," the group's website states.