Tax Credits Offered on GEM Electric Vehicles
August 25, 2009
FARGO, ND - Global Electric Motorcars announced all GEM battery-electric vehicle models have been certified to the Internal Revenue Service (IRS) for the Qualified Plug-In Electric Drive Motor Vehicle Credit, part of the Emergency Economic Stabilization Act of 2008.
The tax credit is now available on any new 2007, 2008, or 2009 model-year GEM cars purchased from January 1, 2009 through December 31, 2009. Credit amounts are as follows:
- $3,751 for the GEM e2, GEM e4, GEM e6 (12-volt battery system) and GEM eS.
- $5,002 for the GEM e6 (8-volt battery system) and GEM eL XD.
"The Qualified Plug-In Electric Drive Motor Vehicle Credit makes GEM cars more affordable for our customers," said Rick Kasper, Global Electric Motorcars president and chief operating officer, in a company statement. "The tax credit, combined with a total ownership cost of one-third that of a full-function vehicle, gives our customers even more reason to use GEM cars for local driving."
With more than 40,000 GEM zero-emission vehicles on the road worldwide, GEM cars drive the equivalent of 150 miles per gallon, or two cents per mile.
GEM cars are also currently eligible for other federal, state, and local tax incentives. For more information regarding the Qualified Plug-In Electric Drive Motor Vehicle Credit or other available incentives for GEM cars, visit www.gemcar.com/taxcredit.