Ford and General Motors will receive federal tax credits for plants making more fuel-efficient and alternative energy vehicles.
U.S. Sens. Carl Levin and Debbie Stabenow, both D-Mich., put out news releases welcoming the grants under an Advanced Energy Manufacturing Tax Credit program, with Levin calling them “another example of how our investments in clean energy and manufacturing are paying off.”
Stabenow wrote the provision which provides businesses with up to a 30% tax cut to build, expand or re-equip manufacturing facilities to produce clean energy technologies such as solar panels, wind turbines and advanced batteries in the U.S.
Ford is getting a $30-million tax credit for its Michigan Assembly Plant in Wayne, where the company produces plug-in hybrids, full-battery electric and other vehicles from the same assembly line.
GM will receive a tax credit of more than $20 million for its Detroit-Hamtramck Assembly Plant, where it makes extended-range electric vehicles, including Chevrolet Volts and the Cadillac ELR electric luxury coupe, as well as internal combustion cars.
The tax credits on manufacturing investments are among a dozen announced today worth $150 million to spur clean energy innovation.
GM’s former auto supply arm, Delphi, also receiveda $10.6-million credit toward an investment in its Kokomo, Ind., electronics plant, where more than 150 jobs are expected to be created.
Source: Detroit Free Press