ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Automobiles

Biden's EV subsidy plan draws ire of Japan and European automakers

Proposed tax incentives for union-built EVs branded 'unfair'

U.S. President Joe Biden in an all-electric Ford F-150 lightning truck during an event in May.   © Reuters

NEW YORK/WASHINGTON -- Japanese and European automakers have cried foul over Washington's plans to subsidize electric vehicles made by union labor, declaring that the treatment would amount to a two-tiered system favoring a select group of manufacturers.

The Biden administration and Democratic lawmakers look to finalize a scheme that would grant a $4,500 tax credit for EVs assembled in union plants. It will be part of the proposed $1.75 trillion Build Back Better spending bill.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more