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New US rules, aimed at curbing China, could limit tax credits for electric vehicles

Associated Press

WASHINGTON (AP) — The Biden administration has proposed new rules that could make it harder for electric vehicles to qualify for a full $7,500 federal tax credit. The rules announced Friday could complicate efforts to meet President Joe Biden’s goal that half of new passenger vehicles sold in the U.S. run on electricity by 2030. The plans set out by the Treasury and Energy departments would limit EV buyers from claiming the full tax credits if they purchase cars containing battery materials from China and other countries that are considered hostile to the United States. The rules are likely to slow consumer acceptance of EVs just as Biden is trying to ramp up sales to reduce greenhouse gas pollution.

Article Topic Follows: AP National

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Associated Press


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