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Foreign automakers ask U.S. House Democrats to reject union EV tax credit By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – Employees walk to the Toyota Motor Corp’s new facility in Apaseo, Mexico’s central State of Guanajuato on February 6, 2020. REUTERS/Sergio Maldonado

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WASHINGTON (Reuters) – A group of 12 major foreign automakers, including Toyota Motor (NYSE:) Corp, Volkswagen AG (OTC:), Hyundai Motor Co and Nissan (OTC:) Motor Co, urged U.S. House of Representatives Democrats to reject a proposed $4,500 tax incentive for U.S-made electric vehicles by union workers.

This month, a House panel approved legislation that would increase EV credits up to $12,500 per car, with $4,500 going to union-made cars. On Thursday, foreign automakers wrote to Nancy Pelosi (House Speaker) claiming that this proposal would “unfairly disadvantage American workers” who did not join a union or produce more vehicles than the United States, as well as the overwhelming majority of American-made EVs.

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