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Incentives may also vary based on how well the car in question performs in these “green” categories. [8] For example, the buyer of a Tesla Roadster, a fully electric vehicle, will receive a much larger tax credit than the buyer of a standard hybrid, which will pollute much more during its lifespan. [9]
President Barack Obama behind the wheel of a new Chevrolet Volt during his tour of the General Motors Auto Plant in Hamtramck, Michigan in 2010. In his 2011 State of the Union address, President Barack Obama set the goal for the U.S. to become the first country to have one million electric vehicles on the road by 2015. [20]
As a result of the government support and new incentives issued in 2014, production of new energy vehicles between January and August reached 31,137 units, up 328% from the same period of 2013. Domestic production during the first eight months of 2014 includes 6,621 plug-in hybrid sedans and 16,276 all-electric cars. [15]
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There’s not much in the way of cash incentives from Honda right now, but with the average auto loan interest rates across all credit profiles ranging from 5.64% to 14.78% for new cars, per ...
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Volkswagen invested approximately one billion U.S. dollars to construct the facility, with local, state, and federal governments subsidizing the project with an estimated $577 million in incentives. [19] Alabama had offered Volkswagen incentives of $385 million, the most the state had ever offered for an auto project.
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