FAQ on the Surge in EV Sales Due to Expiring US Tax Credits
Summary
Why have EV sales surged recently in the U.S.?
EV sales have surged as buyers rush to purchase battery electric vehicles before the federal tax credit for EV purchases expires.
When was the federal tax credit for EV purchases established?
The federal tax credit was established under the Bush administration in 2008 and has been adapted by subsequent administrations.
What role has the tax credit played in the U.S. EV industry?
The tax credit has supported hundreds of thousands of electric vehicle purchases and played a key role in getting the country’s nascent electric vehicle industry off the ground.
Who benefits from the surge in EV sales?
All EV industry actors, such as Massimo Group (NASDAQ: MAMO), benefit from the surge in sales during the final months of the tax credit.
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