The CEOs of GM, Ford, Chrysler, and Toyota want Congress to lift the federal government's cap on the number of vehicles that are eligible for a tax credit.
The executives wrote a letter to congressional leaders saying the credit is essential to keep the vehicles affordable as production and commodity costs rise.
The letter states that removing the cap will encourage consumer adoption.
The only companies that have exceeded the limit so far are General Motor andTesla. As they release an array of new electric products, other automakers are expected to reach the 200,000 mark.
The sunset date for the tax is recommended by the letter first reported by the news agency.
The letter states that the coming years are critical to the growth of the electric vehicle market and that our domestic policies must work to solidify our global leadership in the automotive industry.
According to the letter, the four companies have pledged to invest more than $170 billion through 2030 to bolster EV development, production and sales.
For a long time, Mary Barra and other executives with the Detroit automaker have urged that the cap be lifted to create a level playing field. The policy penalizes early adopters.
Senate Majority Leader Chuck Schumer, Senate Minority LeaderMitch McConnell, House Majority LeaderKevin McCarthy, and House Minority Leader Nancy Pelosi received the letter. Toyota North America CEO Ted Ogawa was one of the people who signed the document.
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