New Tax Credits Aim to Grow EV Fleets

New tax credits will incentivize companies to grow their all-electric fleets, according to Reuters.

Set to take effect on Jan. 1, the incentives, established under President Joe Biden’s Inflation Reduction Act (IRA), will offer tax credits of $7,500 or $40,000 depending on the size of the electric vehicle (EV).

The aim of the program is to convince companies to transition their fleets to zero-emissions vehicles and reduce overall pollution from commercial vehicles, the report said.

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