The Treasury Department released eligibility rules for the expanded $7,500 consumer EV tax credit in the Inflation Reduction Act. The new details mean fewer electric vehicles will likely qualify for the credit.
A Ford F-150 Lightning on a production line in Dearborn, Mich. Photo: Emily Elconin/Bloomberg via Getty Images
President Biden's plan for stringent sourcing requirements in his expanded consumer EV tax credit aims to promote certainty — but it leaves room for China-linked vehicles to be left out in the future.mean fewer electric vehicles will likely qualify for the credit, but they might help confused companies and consumers.for the expanded $7,500 consumer EV tax credit in the Inflation Reduction Act.
They're complicated, but show how the government will treat a requirement that half the credit goes to cars with North American battery parts. They also deal with the other half, which mandates that vehicles use battery minerals from the U.S. or a free trade agreement partner. Minerals recycled in North America are also allowed.
Treasury is using a definition of "free-trade agreement" that may offer auto and battery companies flexibility for minerals via future trade deals. Only 20 countries have
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