Stellantis, VW Drop After Losing US Electric-Car Subsidy
- VW’s ID.4, plug-in-hybrid Jeeps didnt’t make tax credit list
- European manufacturers brace for tougher business in the US
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Stellantis NV and Volkswagen AG shares declined as some of their plug-in cars lost access to US tax credits under tougher rules that took effect this week.
VW’s ID.4 electric crossover lost its full $7,500 tax credit, according to the latest listing by the Department of Energy and Environmental Protection Agency. Stellantis models including two plug-in hybrid Jeep sport utility vehicles that previously received as much as $3,750 are now also ineligible.