New EV tax credit rules trims list of those eligible


New rules took effect Jan. 1 under the Biden administration, reducing the number of electric vehicle models eligible for consumer tax credits up to $7,500.

The number of such vehicles fell from about two dozen to 13 based on narrower criteria according to federal information from EVs that use battery components made by Chinese manufacturers are excluded from the tax credit.

Ashley Schapitl with the Treasurer Department indicated that the list could grow because some companies have yet to submit data under the new rules, reported Bloomberg.

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