Tax Credit Proposal for Battery Powered Vehicles ~ Hybrid Car Review
Hybrid Car Review: Tax Credit Proposal for Battery Powered Vehicles

Monday, March 26, 2007

Tax Credit Proposal for Battery Powered Vehicles

U.S. Rep Dave Camp (R-Midland) proposed a tax credit for the purchase of battery powered vehicles. He wants to provide an incentive to develop further technological developments in vehicles powered by batteries, rather than gasoline. Or, at least, less dependent on gas.

The tax credit does not apply to any particular types of plug-in vehicles. Pure electric vehicles, plug-in hybrids or plug-in fuel cell vehicles could all benefit.

A qualifying vehicle would have to have at least 4 kilowatt hour of battery capacity. The amount of the credit would be the lesser of 10 percent of the cost of the vehicle or $4,000 plus $250 for each additional kilowatt hour of battery capacity above 4 kilowatt hours and up to 50 kilowatt hours.

The press release also mentions current work on the Volt by GM, the Dodge Sprinter by DaimlerChrysler and the Ford Edge. In other research, Saturn wants to develop a plug-in version of the Vue. Toyota has also promised a plug-in hybrid.

Each of the carmakers has pointed out the limitation on battery technology. Automakers want lithium-ion battery packs, but they just aren't available today. In other words, depending on how long this tax credit lasts, this may be an empty gesture for consumers. But it does show that Congress may be willing to follow up when these new 'battery cars' become available.

Source: >Congressman Dave Camp - Representing Michigan's 4th Congressional District via GCC.

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