The Inflation Reduction Act is the biggest overhaul of U.S. automotive policy in a generation. In Automotive News, Daron Gifford discusses why now’s the time for every player in the auto industry to get on board with an EV strategy.
The Inflation Reduction Act is the biggest overhaul of U.S. automotive policy in a generation. If all goes according to plan, it will transform what Americans drive on the streets — and create economic boomlets for the states that manufacture those new vehicles and components.
At least that’s the plan. This new law is so ambitious — and the manufacturing deadlines are so tight — that it’s hard to imagine every goal being met on time. The incentives for EV consumers are large, but so are the strings attached for manufacturers and suppliers.