The tax incentives are valued based upon fuel type, efficiency, and emissions. Credit is available for 10 years to accelerate introduction, with low-volume production projected to begin in 2005.
Credit is available for six years.
To qualify, hybrid vehicles must meet or beat the average emission level for comparable, conventional light duty vehicles. Credit is available for six years. It also would allow technological flexibility by manufacturers to achieve improvements in environmental performance. By assuring that incentives are tied to a vehicle s performance rather than simply rewarding a specific technology, we have broken new ground. This legislation represents a quantum leap forward in helping develop the next generation of motor vehicles.