Senate Deal Includes EV Tax Credits Sought by Tesla, Toyota (2)

A breakthrough deal between senators Chuck Schumer and Joe Manchin includes the extension of a popular consumer tax credit for the purchase of electric vehicles, a big win for EV makers like General Motors Co., Tesla Inc. and Toyota Motor Co.

The credit is included in a broader legislative package that revives key portions of President Joe Biden’s domestic political agenda and contains about $369 billion on climate and energy spending.

It will allow carmakers to continue offering $7,500 in tax credits for the purchase of new “clean cars” with some conditions: they will need to be built ...