Elektros Announces Support for Climate Bill Now in Congress

Rhea-AI Summary

Elektros (OTC PINK:ELEK) expresses support for the Inflation Reduction Act of 2022, a significant climate and clean energy bill in Congress. This legislation aims to invest nearly $370 billion in tax credits to promote clean energy technologies. Key provisions include providing a $7,500 tax credit for new electric vehicles and $4,000 for used ones, potentially stimulating the EV market and decreasing greenhouse gas emissions. CEO Mr. Bleier emphasizes Elektros' commitment to sustainability and innovation in electric mobility.

Positive

• Support for the Inflation Reduction Act aligns Elektros with governmental efforts to promote clean energy.
• Potential increase in electric vehicle demand due to tax credits, benefiting Elektros' market position.
• Focus on sustainability and innovation could enhance brand reputation and customer loyalty.

Negative

• None.

SUNNY ISLES BEACH, FL / ACCESSWIRE / August 1, 2022 / Elektros (OTC PINK:ELEK), an Emerging Leader in providing Electric Mobility solutions, announces support for Climate and Clean Energy Bill in Congress.

The bill, dubbed the "Inflation Reduction Act of 2022," would spend nearly $370 billion on a raft of tax credits to help stimulate adoption of clean energy technologies.

Under the bill, car buyers with incomes below a certain level would receive a $7,500 tax credit to purchase a new electric vehicle, and $4,000 for a used one, which could potentially expand electric vehicle purchases to drive down greenhouse gas emissions from transportation.

Mr. Bleier, the CEO of Elektros, Inc. commented, "Elektros is excited to announce its support for the Climate Bill now being negotiated in Congress as we feel it addresses the growing concern of carbon emissions, and increases the use of electric vehicles. At the core of Elektros mission is to develop quality products that help humanity while addressing the growing climate crisis. The Company stands in support of this legislation as it could not only expand the electric vehicle industry but help spur the jobs of tomorrow."

About Elektros, Inc.

Elektros (OTC:ELEK) is an American electric transportation company that innovates mobility solutions for consumers and businesses. The automotive landscape faces existential disruption over the next decade to reach carbon neutrality. Elektros addresses this paradigm shift with mobility technologies that support sustainability for a transformative user experience. Elektros aims to present a compelling and completely new electric vehicle experience known as Elektros Sonic to consumers beginning as early as 2023. https://elek.world/

Follow us on LinkedIn: https://www.linkedin.com/company/elektros-inc/

Cautionary Language Concerning Forward-Looking Statements

This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.'s products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.'s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

Elektros, Inc. IR and Media Inquiries
Email: ElektrosInc@gmail.com
Website: https://elek.world/

SOURCE: Elektros, Inc.

View source version on accesswire.com:
https://www.accesswire.com/710344/Elektros-Announces-Support-for-Climate-Bill-Now-in-Congress

FAQ

What is Elektros' support for the Inflation Reduction Act of 2022?

Elektros supports the Inflation Reduction Act, which allocates nearly $370 billion for tax credits to promote clean energy and electric vehicle adoption.

How much tax credit is available for electric vehicle buyers under the new bill?

The Inflation Reduction Act provides a $7,500 tax credit for new electric vehicles and $4,000 for used ones.

What impact does the Inflation Reduction Act have on Elektros (ELEK)?

The Act could boost Elektros' sales as it encourages increased demand for electric vehicles through significant tax incentives.

What is Elektros' mission regarding climate change?

Elektros aims to develop quality electric mobility solutions that address the climate crisis and promote sustainable practices.