News Vectrix Hails Tax Credit and Adds Rebate on All-Electric Motorcycle

Vectrix Hails Tax Credit and Adds Rebate on All-Electric Motorcycle

Vectrix Hails U.S. Stimulus Bill and Boosts Benefits by Offering Consumer Rebate for Its All-Electric Vehicle.

Vectrix Corporation, the world leader in Personal Electric Vehicles, hailed the American Recovery and Reinvestment bill that President Obama signed Tuesday for including a 10 percent tax credit toward the purchase of all-electric motorcycles. Today, Vectrix announced its own consumer incentive of $750 on 2007 models and $450 on 2008 models to encourage even more consumers to go electric.

The Clean Energy Stimulus and Investment Assurance Act of 2009, which is part of the overall stimulus package, invests more than $2 billion in electric vehicle technology and provides consumers with tax credit provisions to purchase a wider variety of road-ready plug-in electric drive vehicles. This Clean Energy Act has the potential to stimulate the sale of up to 1.5 million plug-in vehicles, according to Plug In America.

"Companies like Vectrix are defining the future of clean energy vehicles," said Senator John Kerry (D-MA), who visited the company’s New Bedford facility and test drove an all-electric Vectrix last spring. "The economic recovery plan signed into law this week recognizes the incredible importance of transportation that is clean, energy efficient and affordable. Between the incentives offered in the recovery package and those being offered in the private sector, the potential to create jobs, boost our region’s economy and curb our dependence on foreign oil is becoming more and more of a reality."

Along with other plug-in advocates, Vectrix supported the legislation and the bill proposed by Senators Maria Cantwell (D-WA) and Orrin Hatch (R-UT) that extended a 10 percent plug-in car tax credit to all-electric motorcycles. The amendment passed the Senate with broad bipartisan support, 80-16, showing a unified commitment to get plug-ins on the road. The American Motorcyclist Association also helped secure a provision that allows consumers who purchase a motorcycle to deduct the sales and excise tax on their 2009 returns.
"This bill makes it possible for more consumers to purchase the cleanest running vehicles out there today," said Mike Boyle, Vectrix CEO. "It will have a huge impact not only on reducing emissions, but creating jobs and reducing our dependence on foreign oil."

As the largest dealer network for electric road vehicles in the U.S. consumer market today , Vectrix takes a leading role in supporting the electric vehicle component of the stimulus bill. The company also recently added two lower-priced urban commuting models-which will be available this spring-to make 100 percent electric vehicles available to a broader consumer base.

"The innovative work being done at Vectrix in Middletown is good for our environment and our state’s economy," said Senator Sheldon Whitehouse (D-RI). "The tax incentives in the economic recovery legislation will help consumers in Rhode Island and around the country purchase cleaner, more fuel-efficient vehicles, and save money in the long run."

Engineered to provide an eco-friendly, powerful alternative for commuting and recreational needs, all-electric Vectrix vehicles are totally emissions free, virtually silent and highly efficient. The Vectrix is extremely economical and eco-friendly, running at just one cent per mile and the equivalent of 357 miles per gallon, compared with 14 mpg for a leading SUV and 46 mpg for a leading hybrid car. Leading gas-powered motorcycles and scooters range from 52 to 87 mpg.

Read: More About Electric Motorcycles



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