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& # 39; Not much rotation & # 39; behind Trump's threat to cancel an EV subsidy for GM, says an expert



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CTVNews.ca Staff with files by Richard Madan

Published Tuesday, November 27, 2018 EST EST 9:58

Updated Tuesday, November 27, 2018 10:04 EST

US President Donald Trump threatened to cut electric vehicles subsidy to General Motors on Tuesday for the closure of proposed plants, but said the industry expert who would not have a big impact on the company.

It is expected that the closing closure, which includes four US plants and one at Oshawa, Ont., Will cost 14,000 American jobs and 2,900 other jobs in Canada.

Trump, who campaigned on a pledge to bring back manufacturing jobs that won a key Rust Belt in the 2016 presidential election, he wrote on Twitter "We are now looking at breaking all GM subsidies, including electric cars."

Jeremy Acevedo, an auto industry analyst with Edmunds in Santa Monica, Calif., Told CTV News that GM would not notice the breakdown of electric vehicles subsidy (EV).

"Maybe it's a threat, but not with a lot of punching behind her," he said.

The EV subsidy is a tax credit of $ 7,500 for consumers who purchase electric vehicles.

"The way lease is going, and it's so popular now, there are many opportunities for GM and the network of dealers to absorb those tax credits and to give out a cheap lease to shoppers there, "said Acevedo.

However, the global industrial credit – is gradually gradually after a company sells 200,000 electric vehicles, and GM is just a few months away from hitting & # 39; that target.

"Breaking electrical vehicle subsidies to GM would really be almost all important," explained Acevedo. "Indeed, they're going to hit all that on their own. They have had tremendous momentum selling their EVs and joining vehicles, so they're very close to that 200,000 mark. "

Trump and Prime Minister spoke Justin Trudeau about the GM job losses on Tuesday, with both leaders expressing their disappointment.

GM said he will close five plants in Oshawa, Detroit, Ohio, Maryland and Michigan. The company has also announced plans to install operations in three other plants outside North America by the end of 2019.

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