Foreign automakers ask U.S. House Democrats to reject union EV tax credit

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WASHINGTON (Reuters) – A group of 12 major foreign automakers, including Toyota Motor (NYSE:TM) Corp, Volkswagen AG (OTC:VWAGY), Hyundai Motor Co and Nissan (OTC:NSANY) Motor Co, urged U.S. House of Representatives Democrats to reject a proposed $4,500 tax incentive for U.S-made electric vehicles by union workers.

A House panel this month approved legislation to boost EV credits to up to $12,500 per vehicle, including $4,500 for union-made vehicles. The foreign automakers, in a letter sent to House Speaker Nancy Pelosi and other Democrats on Thursday, said the proposal “would unfairly disadvantage American workers who have chosen not to join a union and produce more than half of all vehicles in the United States and the vast majority of American-made EVs.”