White House says new U.S. companies will take electric vehicles

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White House says new U.S. companies will take electric vehicles

The White House pointed out that new U.S. companies are moving to support electric vehicles EVs as final rules on tax credits are expected to be in place this week.

Amazon will roll out the first 3,000 delivery vehicles it acquired as part of a commitment to bring 100,000 vehicles to the road by 2030, according to the White House. First Student, a major supplier of school bus services, is committing to replace 30,000 fossil fuel-powered school buses with electric buses by 2035.

The White House said that the federal government will purchase 13,000 light and medium-duty zero emission vehicles this fiscal year, about four times more than last fiscal year.

President Joe Biden has made electrifying the nation's vehicle fleet a core part of his climate change agenda, funneling millions of taxpayer dollars into new charging stations and tax credits for businesses and consumers.

The administration is expected to release final rules on eligibility for $7,500 EV tax credits, including how much of the car's battery must come from U.S.-sourced parts.

The White House said that Google will provide up-to-date information about the availability and coverage of tax credits across eligible passenger vehicles.

Wells Fargo will be releasing a new tool to help businesses evaluate electric vehicle fleets by modeling deployment that includes the cost of electrification, tax credits, cost savings, and environmental benefits, the White House said.