WASHINGTON—President Joe Biden has signed the much-anticipated Inflation Reduction Act, which promises to spur domestic investment in electric vehicle technology. The bipartisan legislation includes automotive manufacturing and consumer purchase incentives to expand vehicle electrification in the United States.
“Automakers are committed to the electric future and the production of groundbreaking EVs,” says John Bozzella, president and CEO of the Alliance for Automotive Innovation. “For the transformation to electrified transportation to really take hold, it requires more than just EVs with cutting edge performance, design and technology.