EV Tax Credits Not Needed? Coal Millionaire Explains Why

EV tax credits are unreasonable, claims coal miner millionaire and U.S. Senator Joe Manchin. He shared his opinion during the recent Senate hearing on Thursday, Apr. 28.

In 2021, the Biden Administration's Build Back Better Act proposed that EV tax credits should be provided to electric car manufacturers.

This is one of the efforts made by U.S. President Joe Biden to make the United States auto industry more zero-emission. For the past few years, many automakers started to follow the lead of Tesla when it comes to creating zero-emission vehicles.

However, Senator Minchin has always shared his opposite regarding EVs, especially the EV subsidies. Here's what he said.

EV Tax Credits Not Needed?

According to Ars Technica's latest report, Joe Minchi argued that the electric vehicle units in the auto industry are still insufficient.

Because of this, he believes that EV tax credits are unreasonable.

"There's a waiting list for EVs right now with the fuel price at $4. But they still want us to throw [a] $5,000 or $7,000 or $12,000 credit to buy electric vehicles. It makes no sense to me whatsoever," said the U.S. senator.

He added that EV tax credits are "ludicrous" if manufacturers can't produce enough units that can meet the demands of American consumers.

Is EV Really Insufficient?

Tesla and other EV makers are still producing more and more electric car units as people tend to transition to zero-emission vehicles.

In 2021, EV Volumes.Com reported that EV production increased by 108% compared to the units manufactured in 2020.

Specifically, there are more than 6.75 million EV units were produced. In the first quarter of 2022, experts claimed that electric car production has increased.

This means that Tesla and other carmakers are now producing higher numbers of EV units.

On the other hand, faster Rivian production output is expected as the company reorganizes its manufacturing activities.

Recently, Ford's F-150 Lightning shipment has already begun.

For more news updates about EV tax credits and other car tech topics, always keep your tabs open here at TechTimes.

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Written by: Griffin Davis