With a ticking clock on Gov. Jared Polis’ 2019 aspirations to put 940,000 electric vehicles on Colorado highways by 2030, his plan hit a major pothole when President Donald Trump ordered cancellation of the Biden administration’s Inflation Reduction Act Clean Vehicle Tax Credits.

On Sept. 30, the federal tax credits worth up to $7,500 per purchase will vanish. The cutoff, passed by Congress in July, threatens to stall the state’s EV goals just as sales data show a pre-deadline buying frenzy that is masking deeper uncertainties in the market, according to industry experts.

The subsidy has been providing up to $7,500 for qualifying new battery electric vehicles or plug-in hybrid electric vehicles with a manufacturer’s suggested retail price up to $80,000 and up to $4,000 for used EVs price

See Full Page