The Maryland legislation includes two important consumer incentives. The first one offers access for plug-in electric vehicles to high occupancy vehicle (HOV) lanes, regardless of the number of passengers and will become effective on October 1, lasting for three years.
The second one is a $2,000 excise motor vehicle tax credit for the purchase of a plug-in electric vehicle. Car buyers will be able to receive the incentive at the point of sale and combine it with the already-introduced $7,500 federal tax credit. The tax credit targets vehicles titled in Maryland between October 1, 2010 through July 1,2013.
General Motors, who announced that it will invest $246 million in to build electric motors at its White Marsh plant in Maryland, has saluted the initiative.
“This important tax credit not only helps promote the use of cleaner, more energy efficient vehicles throughout our State to help our environment, but it’s an important economic development tool as well,” said Governor O’Malley. “We’ve set a bold goal of creating 100,000 new green jobs over the next several years, and investments like this new electric vehicle tax credit helps us build towards that green infrastructure that GM and others are leading the way on in Maryland.”
“Consumer incentives such as access to HOV lanes and tax credits make a real difference in the market place and can drive consumers to adopt new technologies,” said Tom Stephens, Vice Chairman, GM Global Product Operations.
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