Manchin deal could raise new hurdles for electric vehicle incentives ...Middle East

Democrats’ push to boost electric vehicles could be hobbled by some of the protectionist supply chain provisions they included as requirements to get electric vehicle tax credits. The credits were included as part of the climate deal reached between Sen. Joe Manchin (D-W.Va.) and Majority Leader Chuck Schumer (D-N.Y.), even after Manchin had expressed some skepticism about them. In order for consumers to receive the full $7,500 for the purchase of a new electric vehicle, a portion of the minerals in that vehicle’s batteries will need to be extracted or refined from countries with free trade agreements with the United States. Part of the credit is also tied to a percentage of ba

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Last updated : 04 August 2022 clock 12:33 PM

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Manchin deal could raise new hurdles for electric vehicle incentives ...Middle East

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