WASHINGTON : Many automakers and the South Korean government are urging the Biden administration to tap a commercial electric vehicle tax credit to boost consumer EV access, a plan that could help ease concerns over a climate bill approved in Congress.
Rivian Automotive, Hyundai Motor and Kia Corp among others want the administration to let consumer vehicle leasing qualify for the commercial EV tax credit that could reduce monthly lease payments. Hyundai and Kia want Treasury to allow people leasing EVs to be able to qualify for up to a $4,000 tax credit for used EVs if they buy vehicles when leases expire.
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