rear-wheel drive credit will be reduced as a result of the guidance. The government will publish by April 18 a revised list of qualifying models and tax credit amounts.billion Inflation Reduction Act signed by Biden in August eliminated manufacturer's EV sales caps but imposed new conditions on EV credits. They included a North American assembly requirement that started in August, price and buyer income eligibility caps that began Jan.
"Some EVs will certainly qualify for a partial credit. Given the constraints of the legislation, Treasury's done as well as it could to produce rules that meet the statute and reflect the current market," Bozzella said. Treasury proposes a three-step process for determining the value percentage of critical minerals and a four-step process for determining battery component value.inked a trade deal on EV battery minerals. Treasury says newly negotiated critical minerals agreements can be considered free trade agreements. So the guidance lists Japan as having a U.S. free trade deal.