Joe Biden plan to boost EVs calls for $100 billion in consumer rebates

WASHINGTON (Reuters) – The Biden administration’s $174 billion proposal to boost electric vehicles calls for $100 billion in new consumer rebates and $15 billion to build 500,000 new electric vehicle charging stations, according to a U.S. Transportation Department email sent to congressional staff and seen by Reuters.

The EV rebates, part of a $2.3 trillion infrastructure and jobs proposal, could be a big boost to U.S. automakers, especially General Motors and Tesla Inc, which no longer qualify for $7,500 tax credits after they sold more than 200,000 zero-emission models.

The White House declined to say how the $100 billion would be distributed or how much the grants will be.