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China-Owned Car Company Could Get a Boost From Biden-Harris Regime Tax Credits Meant to Help U.S. Automakers

China-Owned Car Company Could Get a Boost From Biden-Harris Regime Tax Credits Meant to Help U.S. Automakers

by America First Report
July 3, 2023
in All Around the Web
Reading Time: 1 min read

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The automotive arm of a large Chinese corporation, Zhejiang Geely Holding Group, is looking to gain a foothold in the U.S. market and may get a boost from President Joe Biden’s administration.

Polestar is hoping that some of the all-electric SUVs made at its upcoming South Carolina factory will qualify for a $7,500 consumer tax credit offered through Biden’s cornerstone climate law, the Inflation Reduction Act, which subsidize the purchase of electric vehicles, Yahoo Finance reported.

Geely chairman Li Shufu is a rare Chinese business leader who does not have membership in the Chinese Communist Party, but does serve as a member of a major “political consultative body” advising the Chinese government, according to the National Committee of the Chinese People’s Political Consultative Conference.

A Chinese conglomerate is looking to gain a foothold in the U.S. auto market and may get a boost from President Joe Biden’s administration.Polestar — […]

Excerpt Sourced From: americafirstreport.com


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