The original bailout was only 3 pages long, but the one passed last night and going to a final vote in the house is 451. In those pages are an incentive for plug-in hybrids like the Chevy Volt the upcoming plug-in Toyota Prius. The details of the tax credit are as follows.

The credit is a base $2,500 plus $417 for each kWh of battery pack capacity in excess of 4 kWh, to a maximum of $7,500 for light-duty vehicles; $10,000 for vehicles with gross vehicle weights of more than 10,000 but less than 14,000 pounds; $12,500 for vehicles with a GVW of more than 14,000 but less than 26,000 pounds; and $15,000 for any vehicle with a GVW of more than 26,000 pounds.

Vehicles like the Volt will get the maximum credit due to the 16-kWh battery pack. That’s not the only thing that makes GM happy. The minimum battery pack must have at least 4 kWh of capacity which means the current Prius is excluded from the tax credit.

via treehugger, greencarcongress

Tags: bailout, tax credit, volt

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