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Toyota, Honda oppose U.S. House electric vehicle tax plan:
Toyota Motor Corp (7203.T) and Honda Motor Co (7267.T) on Saturday sharply criticized a proposal by Democrats in the U.S. House of Representatives to give union-made electric vehicles in the United States an additional $4,500 tax incentive.
Toyota said in a statement that the plan unveiled late Friday discriminates "against American autoworkers based on their choice not to unionize."
The bill, set to be voted on Tuesday by the Democratic-led House Ways and Means Committee as part of a proposed $3.5 trillion spending bill, would benefit Detroit's Big Three automakers, which have union-represented auto plants. read more
The proposal, estimated to cost $33 billion to $34 billion over 10 years, would boost to up to $12,500 the maximum tax credit for electric vehicles, up from the current $7,500. The $12,500 figure includes a $500 credit for using U.S.-produced batteries.
(Score: 2) by Phoenix666 on Tuesday September 14 2021, @03:25AM (6 children)
This is the Big Three's bid to help them compete with Tesla while they desperately try to catch up in the EV market. But there's so much more they'd have to fundamentally change to do it. First, the ICE model programs have their defenders within those companies, and they will fight to deny or slow down the EVs until their dying breath. Second, they suck at the software to do what Tesla does. Third, their dealership networks hate EVs, will not sell them, and will do everything they can to sabotage EVs because they know those vehicles don't require the maintenance that are the dealerships' bread-and-butter.
That said, for the USA it would be a very good thing to encourage the transformation of the transportation sector from fossil-fuel driver to EV. The US sends something like $350 billion overseas every year to buy oil. With EVs, all that money stays in America and does its good here.
Washington DC delenda est.
(Score: 0, Offtopic) by Anonymous Coward on Tuesday September 14 2021, @09:24AM (5 children)
Under Trump, America became the world's #1 oil producer. That hadn't been true for DECADES.
We produced more oil than Saudi Arabia. Think about that for a minute. Energy security of course could not be tolerated, so the Biden administration shut down as much oil and gas production as it could the minute it took office. 🤡 🌎
(Score: 0) by Anonymous Coward on Tuesday September 14 2021, @12:10PM (3 children)
Geeze it is pathetic how you guys will buy anything spoon fed to you and believe it without question. If you want to be strictly pedantic about it, it was during Obama's term [wikipedia.org] that happened (ooh, I know, he HATES it when he can't hold a candle to Obama!). If you want to take a more nuanced approach and look at it regionally, it is true it happened in 2019 [eia.gov], but if you look at those plots, please show me the strong "Trump effect" that you suggest?
It is like those unemployment numbers where pre-2020 he was taking credit for the lowest unemployment in decades, but the rate had been dropping for more than a decade with the same slope [stlouisfed.org], and he just happened to be the guy in office when he made the claim. (However, it is true that those numbers jumped dramatically up while he was in office, but for some reason it's justified to say he's the cause when riding on the slope, but not his fault when a discontinuous jump happens on his watch--look at that curve from 2010 on: it is a beautiful downward decline when BAM! Look at that jump!).
(Score: 1) by HammeredGlass on Tuesday September 14 2021, @12:19PM (2 children)
That unemployment bump was covid. It wasn't natural at all.
(Score: 0) by Anonymous Coward on Tuesday September 14 2021, @03:55PM (1 child)
That's the point. We're not supposed to count that one, which was directly on his watch AND one he denied was even happening, but we're supposed to give him all sorts of economic credit for riding down the continuous slope as if he had anything to do with that?
(Score: 1) by HammeredGlass on Tuesday September 14 2021, @04:47PM
The establishment aligned against him and tanked the world economy to do it and he's to blame.
(Score: 2) by Thexalon on Tuesday September 14 2021, @03:12PM
We didn't produce oil, we extracted oil. Those aren't the same thing.
As for energy security: You back a strong push towards solar and wind and hydroelectric power, right? Because there's absolutely no way for the Saudis, Venezuelans, Russians, Iranians, Chinese, or any other country to shut down the sun shining on the US without also shutting down their own economies too.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.