• SPX
  • $5,808.12
  • -0.03 %
  • -$1.74
  • DJI
  • $42,114.40
  • -0.61 %
  • -$259.96
  • N225
  • $37,913.92
  • -0.6 %
  • -$229.37
  • FTSE
  • $8,248.84
  • -0.25 %
  • -$20.54
  • IXIC
  • $18,518.61
  • 0.56 %
  • $103.12

GM says it built about 20,000 EVs that did not qualify for tax credits

By Reuters   |   Mar 12, 2024 at 02:50 PM EST
GM says it built about 20,000 EVs that did not qualify for tax credits

(Fixes typo in headline to qualify from quality, changes date in first paragraph to Tuesday from Wednesday)

WASHINGTON (Reuters) - General Motors said on Tuesday the Detroit automaker built about 20,000 electric vehicles this year that did not qualify for EV tax credits before regaining access after supply chain changes.

GM lost access to EV tax credits for nearly all of its models on Jan. 1 when new battery sourcing rules from the U.S. Treasury made many EVs ineligible. GM has since regained eligibility for many EVs including the Blazer EV and Cadillac Lyriq after it made sourcing changes. GM Chief Financial Officer Paul Jacobson said Wednesday over a 60-day period this year GM built about 20,000 EVs that did not qualify.

(This story has been refiled to fix a typo in the headline and to change the date to Tuesday from Wednesday in paragraph 1)

(Reporting by David Shepardson)

Did you find this insightful?


We are preparing, please wait

×
New Alert

Select an alert type

Choose sentiment spike or mentions spike or both to receive email alerts and app notification for the selected stock.
Note: Please be aware that you will receive an email only once a day, around 8:00 AM (EST), in the event of any spike.
In future if you don't want to receive any email then delete stocks added into alert section.

New Alert

Setup alert

×

Premium Content

This content is only available for premium members. Please become a paid member to access.

Download App

Currently, memberships can only be purchased through the app.

×

Log In


or

download app using google store Continue with Google download app using apple Continue with Apple

Email Verification

An email with a verification code has been sent to your email address.

Welcome to StockNews!

Create Your Account

Email Verification

An email with a verification code has been sent to your email address.