Big news out of the federal government could be a big boon for certain automakers.
The Treasury Department said yesterday it would delay releasing proposed guidance regarding the sourcing of EV batteries that are part of the Inflation Reduction Act’s (IRA) new $7,500 EV tax credit.
The IRA’s rules regarding the EV tax credit require that $3,750 of the credit is only eligible if 40% of the value of the critical minerals in the battery have been “extracted or processed” in the U.S., or a…
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