EV Sales Skyrocket as US Tax Credit Window Shrinks
Electric vehicle sales in the U.S. have surged in recent weeks as buyers rush to purchase battery electric vehicles (BEVs) before the federal tax credit for EV purchases expires. Established under the Bush administration in 2008 and adapted by the following two administrations, the tax credit supported hundreds of thousands of electric vehicle purchases in the U.S. and played a key role in getting the country’s nascent electric vehicle industry off the ground. However, with the credit set to expire on September 30, buyers in the U.S. are racing to take advantage before the window closes, resulting in a surge…
