Bill will unplug Georgia’s $5K electric vehicle tax credit – Atlanta Business Chronicle

12
Feb

Bill will unplug Georgia’s $5K electric vehicle tax credit – Atlanta Business Chronicle

Georgia ranked fourth in the U.S. in electric vehicle registrations last year — an impressive showing for a state notched squarely in the middle of the country’s “truck belt.”

Now, a bill introduced by former Alpharetta Mayor Chuck Martin, threatens to suck the air out of electric vehicle adoption in the Peach State.

The bill would eliminate an up to $5,000 tax credit available to buyers of new zero-emission vehicles, no later than April 1. The tax credit — among the richest in the country — coupled with a $7,500 federal tax credit, has fueled electric vehicle adoption in the state. (Disclosure: I drive an EV)

Electric vehicle advocates argue eliminating the tax will slam the brakes on sales of electric vehicles, which they say reduce emissions and dependence of foreign oil.

Despite strong sales of electric vehicles and plug-in hybrids in the last year, the industry is still in its infancy and requires state support to create demand, noted Michael Beinenson, treasurer of the EV Club of the South. Indeed, electric vehicles accounted for just 1.1 percent of vehicle registrations in Georgia, between January and November, according to an Edmunds.com study.

via Bill will unplug Georgia’s $5K electric vehicle tax credit – Atlanta Business Chronicle.

Comments ( 0 )