How Does The Inflation Reduction Act Create Opportunities for Startups Like Green Island EV Co?
The Inflation Reduction Act includes $370 billion of climate and energy spending and tax breaks, mainly for new or expanded tax credits to promote clean energy generation, electrification, green technology retrofits for homes and buildings, greater use of clean fuels, environmental conservation, and wider adoption of electric vehicles. Green Island EV Corp. (“GIEV”) is an early-stage company founded to manufacture commercial, microtransit electric vehicles in Green Island, New York. According to BloombergNEF (“BNEF”), “Global sales of commercial electric vans and trucks more than doubled in 2021. Most of these are lighter vehicles, where the market is set to turn electric quickly in the 2020s" (Electric Vehicle Outlook 2022, BloombergNEF). Further, BNEF expects the commercial EV sector (buses, vans & trucks) to reach approximately 1 million in sales by 2025. GIEV is well positioned given both the NY State push toward school bus electrification, and its expected ability to sell its Type A electric school bus to adjacent microtransit markets such as shuttle buses for universities, public transit, and corporate campuses. For more information or to invest click below: https://invest.raisegreen.com/offering/green-island-ev-corp/details?dcid=62ff3c051845f8427aa14d2c #electricvehicle #inflationreductionact #investment