Elon Musk is getting more firepower for his electric-vehicle price war thanks to President Joe Biden’s signature climate legislation.
Tesla Inc. and its battery partner are poised to receive about $1.8 billion in production tax credits this year under the Inflation Reduction Act, according to forecasts from researcher Benchmark Mineral Intelligence – a windfall that far exceeds an estimated $480 million haul for General Motors Co. and LG Energy Solution. Another rival, Ford Motor Co., won’t begin to reap any benefits from the law’s battery manufacturing credits until 2025.
The disparity reflects the design of the law, which ...
