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Great News for EV Bike Industry

HiRes.jpgThere is some good news coming out of the twisty fiscal cliff ride we have all been on with Congress these past few weeks. One of our favorite parts of the American Taxpayer Relief Act of 2012 is the extension of tax credits for electric motorcycles. Having represented many motorcycle enthusiasts in my Atlanta motorcycle injury law practice, any good news about biking in America is worth repeating. If you weren’t watching closely as we rode closer and closer to the cliff, you might have missed this good news for electric bikes.

Thanks for this goes to Senator Ron Wyden of Oregon who sponsored the extension of the EV tax credit. This legislations allows buyers of these vehicles to receive a credit of 10% of the cost of a qualified electric vehicle with a cap of $2500 for each vehicle. These bikes are required to be a two- or three-wheeled plug-in electric designed mainly to be ridden on public streets, roads, and highways. They also need to be capable of traveling at 45 miles per hour or more. This language prevents electric golf carts and similar vehicles from being eligible for this tax credit.

The tax credit is also very good news for jobs in the expanding electric motorcycle industry reports MotorcycleUSA. Senator Widen’s official statement noted that “the electric motorcycle industry is expected to create nearly 2,000 jobs in just the next 18 months and more than 16,000 jobs over the next 5 years.” Senator Wyden says that over the next decade thousands of jobs will be created due to these vehicles which also supports “the transition to a low-carbon American economy.”

The pacific northwest, and specifically Oregon, has been a greenhouse of electric motorcycle ingenuity. Some of the hottest bikes are coming out of the area including, Brammo and MotoCzysz.

If you or a loved one have been injured in a motorcycle accident, please contact me personally at The Law Offices of P. Charles Scholle, for a free evaluation. I will guide you through the medical and legal issues and fight for your legal rights.