"GM Counters EV Tax Credit Changes with $7500 Discount on Select Models"

General Motors is offering a $7,500 incentive on its electric vehicles that no longer qualify for a U.S. government tax credit due to new battery sourcing requirements. This move comes after the Treasury's guidelines, which aim to reduce reliance on China for EV supply chains, resulted in a reduction of eligible EV models from 43 to 19. Meanwhile, Ford is adjusting prices on its F-150 EVs, with increases on lower-priced models and cuts on premium ones. GM expects its EVs to regain eligibility for the credit in early 2024 after a sourcing change. The new U.S. EV tax credit rules are part of the 2022 Inflation Reduction Act, which requires vehicles to be assembled in North America to qualify.