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    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

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    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

    Taylor Swift Releases New Album The Life of a Showgirl : Listen and Read the Full Credits – Yahoo

    Toni Braxton Is Turning Her Biggest Hits Into Lifetime Movies – Yahoo

    Toni Braxton Is Turning Her Biggest Hits Into Lifetime Movies – Yahoo

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Major airline to offer new in-flight entertainment options for passengers – PennLive.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    Penn State-Themed Restaurant and Entertainment Spot Happy Valley Live Set to Open in State College – StateCollege.com

    The Police Made Chart History With This 1979 Hit Nearly 50 Years Ago – Yahoo

    How The Police Changed Music Forever with Their Iconic 1979 Hit Nearly 50 Years Ago

    Good Deed Entertainment Acquires Worldwide Rights To Liza Mandelup’s Documentary ‘Caterpillar’ – Deadline

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

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    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

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    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

    Inside China’s Tech Expo: Cutting-Edge Innovations Face Uncertain Demand

    Steampunk Metal Oval Technology Sense Sunglasses Personality Handmade Chain Multicolor Sunglasses UV400 – The San Joaquin Valley Sun

    Steampunk Metal Oval Sunglasses with Handmade Multicolor Chain – Bold UV400 Protection and Unique Style

    STELLA Automotive AI Appoints Fred Seidelman as Chief Technology Officer – Yahoo Finance

    STELLA Automotive AI Appoints Fred Seidelman as New Chief Technology Officer

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    Saving Energy and Money with Smart Technology – Terms of Service with Clare Duffy – Podcast on CNN Podcasts – CNN

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Biden Administration Tightens EV Tax Credit Rules

January 5, 2024
in News
Biden Administration Tightens EV Tax Credit Rules
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By ZeroHedge – Jan 05, 2024, 4:00 PM CST

The new tax credit rules exclude vehicles with battery components made by Chinese companies.
Eligibility for the credit now depends on the manufacturing location of battery components and parts.
Some popular models like Tesla’s Cybertruck and Nissan’s Leaf no longer qualify for the tax credit.

Evs

Just as EV demand appeared to be nearing super-saturation, incentives for buying electric vehicles are starting to fall by the wayside.

There are now just 13 EV models that are eligible for a consumer tax credit of as much as $7,500 thanks to new Biden administration rules that took effect on January 1, according to Bloomberg. 

Previously, the number had stood closer to 24 models, but for the new year the tax credit excludes vehicles that use battery components manufactured by Chinese companies, the report says. 

“Automakers are adjusting their supply chains to ensure buyers continue to be eligible for the new clean vehicle credit, partnering with allies and bringing jobs and investment back to the United States,” said Treasury Department spokeswoman Ashley Schapitl.

She also commented that some companies were still in the process of submitted data to see if they qualify for the credit. 

Last month, the Treasury Department announced rules targeting battery components made by companies under Chinese jurisdiction or with at least 25% Chinese government ownership, the report says. 

These regulations, expanding in 2025 to include suppliers of essential battery materials like nickel and lithium, are part of President Joe Biden’s climate law, influenced by Senator Joe Manchin.

Manchin, pivotal in passing the Inflation Reduction Act, aimed to address concerns over U.S. taxpayer money subsidizing Chinese-made batteries.

As Bloomberg notes, depending on the manufacturing location of battery components and parts, vehicles may qualify for a $7,500 or $3,750 credit.

Eligible models for the full or partial credit include Tesla’s Model Y, Rivian’s R1T, Stellantis’s Jeep Wrangler 4xe, and Ford’s F-150 Lightning. However, Tesla’s Cybertruck, certain Model 3 versions, Nissan’s Leaf, Ford’s E-Transit van, and GM’s electric Blazer and Silverado lost credit access.

By Zerohedge.com

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