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GM Fights To Keep Tax Credits Despite Plant Closings

General Motors is fighting to retain a valuable tax credit for electric vehicles as the nation’s largest automaker contends with the political fallout triggered by plans to close several factories and permanently layoff thousands of workers.

Preserving the 75-hundred dollar tax incentive for buyers is crucial for G-M as the company moves from internal combustion engines in favor of cars powered by batteries or hydrogen fuel cells. Yet the layoffs and plant closings could imperil G-M’s push to keep the incentive. It helps make plug-ins such as the 36-thousand dollar Chevy Bolt more affordable at a time when competition from other electric vehicle makers is heating up.

G-M faces opposition from President Trump and other Republicans who consider the credit a waste of taxpayer money and want it eliminated. Trump reacted angrily to

G-M’s “transformation ” announcement last month, saying his administration wanted to cut all G-M subsidies, including for electric cars.

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