FILE - A 2023 Ford Mustang Mach-E charges, Friday, March 8, 2024, at an electric vehicle charging station in London, Ohio. The Treasury Department announced final regulations for the credits under the 2022 Inflation Reduction Act on Friday, May 3, giving automakers more time to comply with some provisions about where battery minerals can come from. 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.
The change is likely to make more EVs eligible for credits in 2025 and 2026, but the auto industry says that’s difficult to tell until automakers finish tracing the origin of all the minerals.
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