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How Do the Electric Vehicle Tax Credits Work?

Blink Charging

Federal tax credits for electric vehicles in the United States are complicated, especially with new changes for 2023. The good news is that there are now tax credits for individuals and businesses that buy or lease a new or used electric vehicle! If you’ve been wondering how all these purchase incentives work, Blink has you covered.

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81% of EVs Sold in 2023 Still Qualify for the Federal EV Tax Credit

EV Life

The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV tax credit aimed at helping qualified drivers purchase an electric vehicle. The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. dependence on China.

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China Ministry of Transport targeting 300,000 new energy vehicles on roads by 2020

Green Car Congress

China will create a favorable environment to foster quicker growth in the new energy vehicle sector through intense government-led promotion, according to the new MOT guideline. Among measures to be undertaken will be the continued construction of charging facilities and tax exemptions and subsidies for car purchases.

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What Are Zero Emission Day and National Drive Electric Week?

Blink Charging

There are four guidelines to follow: Refrain from using or burning oil, gas or coal. NDEW is a nationwide celebration that is meant to raise awareness of the benefits of driving electric vehicles and their plug-in hybrid cousins. Eventually, Zero Emission Day turned into a full-blown movement and got its own date: September 21st.

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How to Take Advantage of EV Charging Incentives for Fleets

Blink Charging

You can find incentives such as: Tax credits – These incentives lessen the amount of taxes that must be paid to the government for specific purchases. Rebates – Incentives that return cash to you if you purchase a specified item. Grant award amounts vary and may cover up to 100% of the incremental AFV cost.

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How Corporations Can Help the U.S. Reach its EV Goals

Clean Fleet Report

Private fleet EV purchases are increasing at a faster rate overall than consumer EV purchases. Scope 2 emissions are indirect greenhouse gas emissions associated with the purchase of electricity, steam, heat, or cooling. Employees who drive a fleet EV for work might have to adapt quickly if they’ve never charged an EV before.

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China’s EV sector needs concrete revisions in the dual credit policy, not vague comments

China EV

More importantly, China Daily reported that Miao said MIIT is working on guidelines for the NEV sector, including the dual-credit scheme. Selling NEVs – which includes battery electric, plug-in hybrid electric, and hydrogen fuel cell vehicles but for all intents only means BEVs and PHEVS right now – is already challenging in China.

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