It’s unlikely that all the companies involved in Volt production will ever receive all the $3 billion in incentives, Hohman said, because many of them are linked to meeting various employment and other milestones. These are among many of the subsidies and tax credits for the vehicle. The company that supplies the Volt’s batteries, Compact Power, was awarded up to $100 million in refundable battery credits (combination tax breaks and cash subsidies). The company was also awarded approximately $106 million for its Hamtramck assembly plant in state credits to retain jobs.
For example, the Department of Energy awarded a $105.9 million grant to the GM Brownstown plant that assembles the batteries. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General Motors, but other companies supplying parts for the vehicle. The Volt subsidies flow through multiple companies involved in production. The amount of government assistance does not include the fact that General Motors is currently 26 percent owned by the federal government. Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle. His analysis included 18 government deals that included loans, rebates, grants and tax credits. (Editor’s note: This article has been updated with a reaction from a General Motor's official.)Įach Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy.
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