Washington-based Zero Emission Transportation Association (ZETA) appointed former Tesla employee Albert Gore III as its executive director on January 4, as reported by US News.
The former vice president’s son shared some of his new responsibilities on the implementation of the 2021-approved EV charging station program worth $5 billion and the newly passed EV federal tax credits in August.
“Lots of work ahead, starting with implementation of the National Electric Vehicle Infrastructure Program and new industrial policies in the Inflation Reduction Act.”
Albert Gore III
Gore, a 2007 Nobel Peace Prize co-winner for the climate campaign, spent almost seven years working for Tesla in business development and public policy.
Zeta Members
According to the report, the ZETA comprises the following companies: Tesla, Lucid Motors, Rivian, LG, Alphabet’s Waymo, Uber, Panasonic, Albemarle, etc.
Inflation Reduction Act
By 2030, the Biden Administration aims to see sales of new electric or plug-in hybrid vehicles reach 50% of total sales.
The EV tax credit regulations were updated by the $430 billion Inflation Reduction Act, passed in August. Consumer tax credits of $7,500 are now available for EV purchases made outside North America. That said, South Korea, the European Union, Japan, and others were displeased.
“Much of the conversation around EVs over the next few years will focus on implementation and deployment.”
ZETA Former Exec Director Joe Britton
The US Treasury Department announced last week that EVs leased by customers might be eligible for up to $7,500 in commercial clean car tax credits. It is a ruling that grants eligibility to those beyond North America.
Furthermore, the rule aims to cut Chinese battery minerals or components. It also controls sourcing battery minerals and component costs for qualifying automobiles.
Notably, consumer credit is not subject to any restrictions that apply to commercial credit.
Apart from those, Tesla and General Motors are now eligible for EV tax credits owing to the IRA’s removal of the 200,000 vehicles per company cap.
The Inflation Reduction Act is anticipated to increase domestic manufacturing and demand for electric vehicles in the US. It must, however, solve the current concerns caused by the new restrictions, which can deter EV users from transitioning.
