Popular electric vehicles will no longer qualify for $7,500 tax credit in just weeks – see what models are affected ...Middle East

The U.S. Sun - News

NEW rules will stop many popular electric vehicles from being able to have an added tax credit applied to them. On January 1, multiple electric cars from popular brands will no longer be able to qualify for the $7,500 tax credit. ReutersOnly a limited amount of electric cars will be eligible for the tax credit[/caption] Starting next year, to receive the credit, all of the vehicle parts need to be made and manufactured in North America. This is part of the Inflation Reduction Act, which looks to reduce its dependence on China, which has made batteries for many electric cars. Previously to receive the full credit, automakers needed to have a certain amount of their battery comp

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Last updated : 17 Dec 2023 clock 07:33 AM

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Popular electric vehicles will no longer qualify for $7,500 tax credit in just weeks – see what models are affected ...Middle East

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