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Thursday, May 20, 2010

Maryland Signs Two Bills to Quicken Acceptance of Electric Vehicles

Maryland Governor Martin O’Malley (D) today signed two bills into law that will support advanced vehicle propulsion technology and help spur early consumer acceptance of electric vehicles like the Chevrolet Volt.

The Maryland legislation includes two important consumer incentives:

1) Access for plug-in electric vehicles to high occupancy vehicle (HOV) lanes regardless of the number of passengers. This legislation will take effect October 1, 2010 and last for three years.

2) A $2,000 excise motor vehicle tax credit for the purchase of a plug-in electric vehicle. Consumer’s will be able to take advantage of this incentive at the point of sale and can combine the $2,000 with an existing $7,500 federal tax credit. The tax credit applies to vehicles titled in Maryland between October 1, 2010 through July 1, 2013.

“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. “GM commends Governor O’Malley and the state of Maryland for recognizing the important role these new vehicle technologies and the Chevrolet Volt will play in addressing the energy and climate priorities of the state and our country.”

The Washington D.C. metro market is one of three key markets – along with California and Michigan – where Chevrolet will begin selling the Volt. Each market has progressive local and state government leaders and utility partners. Volt production begins later this year.

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