Biden tax credits aim to jolt electric delivery truck demand

Source Reuters..

Dec 29 (Reuters) - The United States will introduce incentives on Jan. 1 for delivery firms and other companies to switch to electric trucks as part of a broad push to get polluting, workhorse vehicles off roads and out of neighborhoods.The first-of-its-kind 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). Delivery companies like FedEx (FDX.N) and Amazon.com (AMZN.O) would qualify at the $7,500 level for many of their electric trucks.Those tax credits can be combined with voucher programs in California, New York and other states that are spending billions of dollars to convince companies to switch to zero-emissions vehicles. The IRA's commercial EV credits do not have "made in the USA" rules that apply to passenger cars.