$7,500 incentive for EVs offered by GM to counter lost US tax credit

DETROIT, Michigan: This week, General Motors (GM) said to make up for a lost U.S. government tax credit for electric vehicles (EV), it would offer incentives of US$7,500.

Meanwhile, rival Ford said it is increasing prices of some of its F-150 EVs by $10,000.

To reduce the reliance of the U.S. EV supply chain on China, in December, the U.S. Treasury issued guidelines for new battery sourcing requirements,