US loosens some electric vehicle battery rules, potentially making more EVs eligible for tax credits
The U.S. government on Friday loosened some rules governing electric vehicle tax credits, potentially making more EVs eligible for credits of up to $7,500 but leading critics to accuse the Biden administration of helping China.
More EVs could be eligible for tax credits as US loosens battery rules
On Friday, the Treasury Department announced final regulations for the credits under the 2022 Inflation Reduction Act, giving automakers more time to comply with some provisions about where battery minerals can come from. The credits range from $3,750 to $7,500 for new EVs. There's also a $4,000 credit for used ones.
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