Shifting political winds during the US November mid-term elections could spell trouble for automakers’ hopes of getting billions of dollars in consumer tax credits that would help the United States compete with Chinese and European rivals.
General Motors Co, Ford Motor Co, Chrysler-parent Stellantis NV and Toyota Motor Corp have pledged to invest more than $170 billion through 2030 to bolster EV development, production and sales.
Automakers are making a furious last-ditch effort to convince Congress to approve an extension of EV incentives before Republicans, who are largely opposed to doling out EV subsidies, could potentially take over both houses of Congress next year.
