The canary in the coal mine was struggling EV start-up Arrival, which said in October it was shifting its production focus from the UK to the US to take advantage of the country’s generous new subsidy package.
Arrival’s statement was blunt. “The major factors in the company’s decision to shift focus to developing its US business included the tax credit recently announced as part of the Inflation Reduction Act – expected to offer between $7,500 (£6300) to $40,000 (£33,000) for commercial vehicles.”
