BRUSSELS : The European Union said on Thursday it was"deeply concerned" about proposed tax credits for purchases of electric vehicles in the United States because they would be biased against foreign producers and may breach World Trade Organization rules.
However, domestic content conditions would apply to the tax breaks to push the EV industry away from reliance on China and spur local investment in battery minerals and manufacturing. Garcia Ferrer told a news briefing the EU agreed with Washington that tax credits are an important incentive to drive demand for EVs and promote the transition to sustainable transport and a reduction in greenhouse gas emissions.
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