Senate committee approves $2,500 federal tax credit for electric two-wheelers
Major car and motorcycle makers are considering entering the e-bike market in the U.S. As for now, three smaller companies have been selling bikes and bringing in investors: Brammo, BRD, and Zero Motorcycles. Last month, Brammo Inc. closed the first $13 million of a $45 million funding round, and has other financial backers.
Some analysts think federal tax credits are critical for building up sales volume and ramping up production volumes, bringing down retail prices long term. Plug-in passenger vehicles have a tax credit worth up to $7,500, depending on the size of the battery. The Chevy Volt can get a $7,500 credit, but the Toyota Prius Plug-In only earns $2,500.
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