Good News and Bad News: Changes to the Federal EV Tax Credit in 2024
EV Life
JANUARY 4, 2024
In addition, battery sourcing requirements can also affect a vehicle’s eligibility. 3,750 of the credit applies to the raw materials inside batteries, requiring a certain percentage of critical minerals to be mined or processed in the U.S. For example, starting in 2024, battery components cannot come from companies controlled by China.
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