Biden Administration to revamp EV tax credits to curb Chinese influence ...Middle East

The Wall Street Journal is reporting that the Biden administration is expected to announce tax-credit rules for electric vehicles (EVs) on Friday, impacting the American EV market.These rules involve a $7,500 tax subsidy for new EV buyers, with a specific focus on limiting the use of battery materials from "foreign entities of concern," primarily targeting Chinese suppliers.The definition of "foreign entity of concern" is crucial and challenging for the administration, as it will significantly influence EV prices in the U.S.The aim is to encourage domestic auto-supply chain development and reduce reliance on China, a major clean-energy technology supplier and geopolitical rival.Strict applic

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Biden Administration to revamp EV tax credits to curb Chinese influence ...Middle East

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