Phoenix Motorcars with a $40k Tax Credit
Phoenix Motor Inc. is making strides in the electric vehicle industry by offering all-electric commercial vehicle models eligible for up to $40,000 in tax credits under the Inflation Reduction Act. The tax credits are aimed at encouraging the adoption of electric vehicles and supporting domestic production. This is great news for businesses looking to reduce their carbon footprint and take advantage of significant tax credits.
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Phoenix Motor’s medium-duty vehicles, such as the Phoenix Shuttle Buses, Phoenix Trucks, and Phoenix School Buses, are designed to provide reliability and efficiency while helping address climate change. The company also offers electric forklifts and electric vehicle chargers for both commercial and residential markets. Phoenix Motor’s commercial, medium-duty EVs are marketed under its “Phoenix Motorcars” brand.
“We are proud to be able to provide clean, safe, and environmentally friendly transportation for those seeking purpose-built, all-electric vehicles including trucks, buses, and cargo vans,” said Dr. Lance Zhou, CEO of Phoenix Motor Inc.
According to Yahoo Finance, $40,000 tax credits are available for vehicles weighing less than 14,000 pounds gross vehicle weight rating (GVWR), while up to $ 7,500 for vehicles weighing higher than 14,000 pounds. Currently, there is no limit on the number of tax credits a business can claim.
Phoenix Motor is committed to providing clean, safe, and environmentally friendly transportation. The company plans to introduce the “EdisonFuture” in the market by 2025, which is its light-duty EV truck offering for the recreational and commercial market.
Overall, Phoenix Motor Inc. is targeting to help businesses transition to sustainable transportation solutions with its all-electric commercial vehicle offerings eligible for significant tax credits. By taking advantage of the Commercial Clean Vehicle Credit and adopting electric vehicles, businesses can reduce their carbon footprint and save money. For more information about Phoenix Motor’s vehicle and product offerings, visit their website.
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