As the CEO of a newly launched small business (GOGO EV Corp.), I know all too well how much work and planning goes into the process of creating, developing, and managing a business. While Congress and President Trump look to balance the budget it’s imperative that their actions consider small businesses like mine.
Reigning federal spending and cutting wasteful programs is a goal that we all get behind. But this should be done carefully with a scalpel, not a chainsaw. The Inflation Reduction Act created investments that have allowed companies, & nonprofits to purchase EVs through credits. These credits have allowed us to launch and operate and taking them away could make the difference between success and closing.
GOGO EV Corp. provides end-to-end EV charging solutions that are meticulously tailored to meet the unique needs of businesses, municipalities, and forward-thinking organizations committed to sustainable transportation. Our business would be harmed by the revocation of many of the provisions of the IRA, including 30D & 25E (credits that help consumers purchase EVs), 45W (which provides businesses and non-profits anywhere from $7,500 to $40,000 per vehicle for fleet electrification), and 30C, the lifeline credit that covers up to 30 percent of the cost of deploying the critical charging-station infrastructure those drivers depend on every day. These credits directly affect our customers’ ability to invest not only in electric vehicles but in the chargers that keep them moving, which in turn allows us to invest more in research & development, future-proof planning, and hiring.
According to data released by the Department of Energy, there are 3,666 jobs related to EVs in Utah. Another study estimates that by 2028 U.S. EV manufacturing facilities will be capable of producing approximately 4.7 million new light-, medium-, and heavy-duty electric vehicles annually. This same report also estimates that 826,00 jobs are tied to EV and battery production as well as their industries. It’s estimated that heavy-duty EVs will grow 16.7% from 2024 to 2030 in the United Sates, making it among the highest growth rate in the world.
These EV owners are the future customer base for companies like GOGO EVs Corp. and without the incentives that are catalyzing market growth, companies like mine cannot invest in the future. The old proverb in business that uncertainty is the enemy of investment is as true as ever.
We can all agree that the budget deficit is a problem that requires urgent solutions but yanking the rug out from under customers like ours is not going to bring economic benefits to the country. If anything, it will wreak havoc, costing America and Utah thousands of jobs as businesses would be forced to curtail spending or hiring to cope with the loss of business. I urge Representative Moore to stand up for our community, our jobs, and our businesses and fully support maintaining these credits.
Travis Nicolaides is the CEO & Founder of GOGO EV Corp.
