White House touts Amazon EVs, Google EV tax credit tool

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(Reuters) – The White House on Thursday highlighted new U.S. company moves to support electric vehicles (EVs), as final rules on tax credits aimed at boosting the industry are expected this week.

Amazon (NASDAQ:AMZN) is rolling out the first 3,000 delivery vehicles it has acquired as part of a commitment to bring 100,000 vehicles to the road by 2030, the White House said, and First Student, a major supplier of school bus services, is pledging to replace 30,000 fossil fuel-powered school buses with electric buses by 2035.

The federal government will buy 13,000 light- and medium-duty zero emission vehicles this fiscal year, about four times more than last fiscal year, the White House said.

President Joe Biden has made electrifying the nation’s vehicle fleet a core part of his climate change agenda, funneling millions of taxpayer dollars into new charging stations and tax credits for businesses and consumers.

On Friday, the administration is expected to release final rules on eligibility for $7,500 EV tax credits, including how much of the car’s battery must come from U.S.-sourced parts.

Google will provide up-to-date information about the availability and coverage of tax credits across eligible passenger vehicles with a new search tool, the White House said.

Wells Fargo (NYSE:WFC) will also release a new tool to help businessess evaluate electric vehicle fleets by modeling deployment that incorporates the cost of electrification, tax credits, cost savings, and environmental benefits, the White House said.