ZAP Electric Car Buyers Eligible for Tax Credit
Posted in: electric car, electric vehicle, Today's Chili
ZAP officials said that the Stimulus Act signed into law by President Barack Obama lets buyers of its electric cars and trucks receive a 10 percent tax credit, up to a maximum of $2,500, CNNMoney.com reports. The credit can be applied to ZAP’s Xebra sedan (MSRP $11,700) and truck (MSRP $12,500), as well as its low-speed neighborhood electric vehicles, the ZAP Shuttle (MSRP $14,700) and ZAP XL Truck (MSRP $14,500).
ZAP argued that the tax credit, which wouldn’t have taken effect until 2010, should be implemented immediately in the spirit of the Stimulus Act. California congressman Mike Thompson took up the cause and argued for it, according to the report.
Earlier this month, ZAP announced that its Alias electric car would compete for the Progressive Insurance Automotive X PRIZE, along with 35 other teams, in an effort to design and build production-capable 100 MPG-energy-equivalent (MPGe) vehicles that are affordable and meet the needs of the average mainstream car buyer.
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