Colorado has signed legislation to promote EV sales through a revised income tax credit. House Bill 1332 streamlines existing EV tax incentives, which were based on a complicated formula involving battery size, car price, and federal tax credits. The new credit applies to any car with a battery bigger than 4 kWh. When purchasing, the buyer gets a $5,000 income tax credit. Lessees can claim a $2,500 credit. Furthermore, the customer can transfer the credit to a dealer or financing agency, essentially making it a point-of-sale incentive. Colorado expects the new legislation to further accelerate EV sales, which were up 10 percent in 2015 compared to 2014, despite the confusing credit math. Read more from the Southwest Energy Efficiency Project.
The Association of Global Automakers has launched DrivingZEV.com. The new website serves to provide information about green vehicle technologies, offerings from automakers, and track sales and progress toward zero-emission vehicle goals throughout the US. "The green vehicle marketplace is still relatively young, and consumer education is a significant component of DrivingZEV.com," says Global Automakers President and CEO John Bozzella. "We are committed to seeing these technologies succeed and hope that by increasing awareness of the new and exciting products out there we can help these states as they try to reach their ZEV requirements." Visit DrivingZEV, or read more in the press release below.
WASHINGTON, June 14, 2016 /PRNewswire-USNewswire/ -- The Association of Global Automakers (Global Automakers) today announced the launch of DrivingZEV.com, a website detailing the advancement of green vehicle technologies and the challenges of today's marketplace as both automakers and states strive to reach target sales for zero emission vehicles (ZEVs).
"Automakers are making major investments in designing and marketing ZEVs," said John Bozzella, president and CEO of Global Automakers. "However, building a sustainable market remains a challenge. It will take effort from the industry, states, and consumers alike to reach the sales mandate set by the state of California."
California's ZEV mandate requires that 15 percent of new vehicles sold in the state by 2025 be zero emission vehicles – such as plug-in hybrid electric, battery electric, and hydrogen fuel cell electric vehicles. Nine additional states have adopted California's mandate. DrivingZEV.com follows the steps that automakers and states are taking to reach these sales requirements, and tracks sales figures and the current progress made in each state.
A number of measures have been shown to encourage sales of environmentally-friendly vehicles, including:
• Consumer incentives, rebates, and tax credits
• Access to high-occupancy vehicle and high-occupancy toll lanes
• Infrastructure investment (electric charging stations, hydrogen refueling stations)
• Public awareness campaigns
California leads the nation in electric and hydrogen infrastructure funding and incentives, but ZEVs remain at less than 3 percent of new vehicle sales. Oregon and some of the northeastern states who have committed to the mandate are ramping up efforts, but sustainable annual funding continues to be a challenge. To meet the requirements of the ZEV mandate by 2025, sales of green vehicles must increase seventeen-fold.
"The green vehicle marketplace is still relatively young, and consumer education is a significant component of DrivingZEV.com," said Bozzella. "We are committed to seeing these technologies succeed and hope that by increasing awareness of the new and exciting products out there we can help these states as they try to reach their ZEV requirements."
There are currently more than 35 different makes and models of zero emission vehicles on the market.
The Association of Global Automakers represents international motor vehicle manufacturers, original equipment suppliers, and other automotive-related trade associations. We work with industry leaders, legislators, and regulators to create the kind of public policy that improves vehicle safety, encourages technological innovation, and protects our planet. Our goal is to foster a competitive environment in which more vehicles are designed and built to enhance Americans' quality of life. For more information, visit www.globalautomakers.org.