At the beginning of this year, the administration allowed most domestically assembled electric vehicles to qualify for the credits. But to comply with the law, it is now enforcing additional rules about how much of the battery must originate in the United States or a country with which the U.S. has a free-trade agreement.
Those rules were designed to reduce U.S. reliance on materials made in China, which dominates the battery industry. They were crucial to winning the support of Sen. Joe Manchin III for the law. Manchin has repeatedly pushed the U.S. auto sector to reduce reliance on China.To qualify for the full credit, automakers must show that 40 percent of the value of the “critical minerals” in the battery originates in the United States or a country with which it has a free-trade agreement.
General Motors did particularly well under the new rules, with all of its EV models, including the Chevy Bolt and Bolt EUV, qualifying for the full credit. In a statement, the company said this was “made possible by GM’s historic investments in the U.S. to transform our portfolio, strengthen American manufacturing and jobs, and localize and build more secure and resilient supply chains.”
'average monthly payment for new vehicles hit a record high of $730 in Q1 2023, compared to $656 in Q1 2022 ...average down payment for a new vehicle climbed to a record high of $6,956 in Q1 2023, compared to $6,083 in Q1 2022' Depreciating assets too.
Why aren't all electrification tax credits refundable and why don't vehicle credits go to those cars (let's make some!) under $50K? These are upper middle class tax credits paid for by all.
I am not buying a 10,000usd iPhone just because the battery had to be made in the u.s.
.....I don't think they realize a lot of materi, especially raw material, is not available in the U.S. and would take a decade or more to even find raw resources readily mined and processed in the U.S. stop fighting other countries and start working with them.
The tesla is my dream car
It's hydrogen, not electricity. Amen, Elon Musk. Or perverted Nichiren groove.
This electric thing isn't going to work out like the left imagines.
Bad news for state-funded bodies like Tesla who rely so heavily on Chinese near-slave labor. Just like Daddy's emerald mine eh elonmusk ?
nobody wants electric cars
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: therealautoblog - 🏆 528. / 51 Read more »
Source: motorauthority - 🏆 61. / 68 Read more »