ATVM program

$Damon Inc (DMN.US)$ Damon Motors, a Canadian-based electric motorcycle manufacturer, has expanded its operations into the United States by establishing development offices in San Rafael, California. This strategic move positions Damon Motors to potentially benefit from various federal and state incentives aimed at promoting electric vehicle (EV) manufacturing and adoption.

Federal Incentives:
The U.S. federal government offers several programs to support EV manufacturers:

Advanced Technology Vehicles Manufacturing (ATVM) Loan Program: Administered by the Department of Energy, this program provides loans to manufacturers of advanced technology vehicles and their components. Eligibility requires U.S.-based manufacturing facilities and the production of vehicles that significantly improve fuel efficiency.

Federal Tax Credits: While primarily aimed at consumers, certain tax incentives may indirectly benefit manufacturers by boosting demand for EVs.
State Incentives in California:
California is a leader in promoting EV adoption and offers various incentives:

Zero-Emission Motorcycle (ZEM) Mandates: California has introduced ZEM mandates to accelerate the transition to clean energy motorcycles. Manufacturers like Damon Motors can earn ZEM credits for exceeding emission standards, which can be sold to other manufacturers, creating a new revenue stream.

California Competes Tax Credit: This program offers income tax credits to businesses that want to come to California or stay and grow in the state. Eligibility is based on factors such as job creation, investment, and economic impact.

Next Steps for Damon Motors:

To capitalize on these opportunities, Damon Motors should:

1. Engage with Federal and State Agencies: Initiate discussions with the Department of Energy and California's Office of Business and Economic Development to explore available programs and incentives.
2. Assess Eligibility: Evaluate the company's operations against the criteria of each program to determine qualification.
3. Prepare Applications: Develop comprehensive applications that highlight the company's commitment to innovation, job creation, and environmental sustainability.

By leveraging these incentives, Damon Motors can enhance its manufacturing capabilities in San Rafael, contributing to the growth of the EV industry in the U.S.