DJ Biden Infrastructure Plan Would Boost EVs, Related Products -- Market Talk

11:48 ET - A Biden administration proposal that earmarks money for tax credits and rebates would be "a significant bullish catalyst for EV sales domestically," Wedbush Securities' Daniel Ives and Strecker Backe say. The Wedbush analysts point to the expansion of the EV tax credits from $7,500 to $10,000--or potentially higher in a tiered system--and the expected phase-out of the 200,000-vehicle allotment for the tax credits, which would restore the tax credit for Tesla and GM as well as other investments like the expansion of public charging ports and electrifying about 20% of school buses. Beyond EV auto makers, they say, the EV investing landscape offers an upside for EV battery players like Microvast and QuantumScape, EV-charging companies like ChargePoint and Blink and others. (maria.armental@wsj.com; @mjarmental)

(END) Dow Jones Newswires

April 09, 2021 11:48 ET (15:48 GMT)

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