Electrified Vehicle Development Is "Supercharged" By The Inflation Reduction Act

Individuals interested in purchasing electrified vehicles as well as governmental entities and businesses that are considering electrifying their fleets should carefully consider the numerous benefits contained in the Inflation Reduction Act (the Act) that was signed into law by President Biden on August 16, 2022. In particular, Part Four of Subtitle D of the Act focuses on benefits afforded clean vehicles. These benefits are in addition to the $7 billion in benefits afforded state governments and private parties for developing charging infrastructure included in the November 2021 Infrastructure Law. The clean energy provisions of the Act contain over $350 billion of benefits.

This newsletter will generally describe the benefits afforded interested parties in electrified vehicles and charging stations supporting those vehicles.