Electric vehicle stocks tumble after Manchin rejects Biden's climate and social plan

The proposed EV incentive under Build Back Better included a current $7,500 tax credit to purchase a plug-in electric vehicle as well as $500 if the vehicle's battery is made in the U.S.

It also includes a controversial $4,500 tax credit if the vehicle is assembled domestically with union labor, which has drawn heavy criticism from non-Detroit automakers whose American workers aren't organized., both of which have announced significant investments in electric vehicles.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden electric vehicle push hits setback in U.S SenateA bid by the White House to dramatically boost electric vehicle tax credits hit a major roadblock on Sunday when a key Senate Democrat said he would not support a $1.75 trillion domestic investment bill. That's what happens when a deciding vote is a coal executive! Why...? Who's going to foot the electric bill...!
Source: Reuters - 🏆 2. / 97 Read more »