Automakers Press Congress to Remove US Cap on EV Tax Credits

The four largest automakers in the US have asked bipartisan leaders in Congress to lift the cap on electric-vehicle tax credits and put a sunset date on it instead.

Chief executive officers from General Motors Co., Ford Motor Co., Toyota Motor Corp.’s North American unit and Stellantis NV all signed the letter, which asks Congress to renew the tax credit system that currently gives EV buyers $7,500 but ends when each carmaker reaches 200,000 vehicles in sales. The letter was sent to Senators Chuck Schumer and Mitch McConnell and Representatives Nancy Pelosi and Kevin McCarthy.

In the ...