DETROIT —
Starting this year, complex rules are being phased in to promote development of a domestic electric vehicle supply chain. The rules would limit EV buyers from claiming the full tax credit if they purchase cars containing battery materials from China and other countries that are considered hostile to the United States.
Starting in 2025, batteries with any critical minerals from nations of concern would not be eligible for any tax credits. But after getting comment from the auto industry and others, treasury officials decided to loosen that restriction. “The EV transition requires nothing short of a complete transformation of the U.S. industrial base," John Bozzella, CEO of the Alliance for Automotive Innovation, a large industry trade group, said in a statement. “That’s a monumental task that won’t – and can’t – happen overnight.”At present, China dominates crucial parts of EV battery supply and production, even as automakers race to establish key mineral and components efforts elsewhere.
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