tldrdaily.news logo
Tag

Battery Components

All articles tagged with #battery components

electric-vehicles2 years ago

"Federal EV Tax Credit Limited to 10 Electric Car Models in 2024"

Starting January 1, 2024, only ten electric car models will qualify for the full $7,500 federal tax credit under the Inflation Reduction Act. The regulations require that eligible clean vehicles must not contain battery components or critical minerals that are manufactured, assembled, extracted, processed, or recycled by a foreign entity of concern (FEOC). The applicable percentages for battery component and critical mineral requirements will increase over the years. Additionally, there are several electric car models that will be eligible for half of the federal tax credit. The complex rules and regulations surrounding the tax credit may deter prospective electric car buyers and create uncertainty in the market.

via CleanTechnica|
#battery-components#critical-minerals#electric-car-manufacturers
automotive2 years ago

Implications of US Tax Credit Changes on Electric Vehicles

Tesla is warning buyers that certain versions of its Model 3, including the rear-wheel drive and long-range models, may only be eligible for half of the $7,500 EV tax credit in the US. The warning comes after new government guidelines clarified tax credit requirements, stating that if a company uses battery components from a foreign entity of concern (with at least 25% ownership from Iran, China, North Korea, or Russia), they will lose the credit starting next year. This affects Tesla's Model 3 due to its batteries from China. The industry sees this as good clarity, but concerns remain about the development of a native ecosystem for battery components and materials in the US.

via Yahoo Finance|
#automotive#battery-components#ev-tax-credit
business2 years ago

Tesla Explores Sunrise New Energy's Battery Components for Energy Storage Expansion

Battery components maker Sunrise New Energy has received interest from Tesla for its products, causing Sunrise shares to rise by 11%. Sunrise, through its joint venture, manufactures graphite anode material for lithium-ion batteries, which Tesla uses to power its cars. Tesla's battery raw materials team has requested technology details, manufacture plans, and available capacity for Sunrise's products. Sunrise is also constructing a manufacturing plant in China's Guizhou province. Additionally, Sunrise has applied for two patents for its hard carbon composite materials this month and has been granted 25 patents so far.

via Reuters|
#battery-components#business#electric-vehicles
automotive2 years ago

"EV Tax Credit Update: GM, Tesla, and More Eligible for Full $7,500 Credit"

General Motors has confirmed that its customers will receive the full $7,500 Clean Vehicle Purchase Incentive across its entire EV lineup as long as vehicles are under the MSRP cap. The company is well-prepared for the transition thanks to significant investments and partnerships with LG Energy Solution and other partners. The company leads the industry in the number of models qualifying for the full $7,500 consumer incentive. The new requirements for the tax credit will take effect on April 18, and only models that are locally produced and meet two new requirements will receive the full credit.

via InsideEVs |
#automotive#battery-components#critical-minerals
electric-vehicles2 years ago

"Revised EV Tax Credit Qualifications Limit Eligible Models to Only 6"

Only six pure electric vehicles (EVs) on sale in the US qualify for the full $7,500 EV tax credit, according to the Treasury Department's final list of eligible vehicles. To qualify, automakers had to prove that at least 50% of their battery components and 40% of their critical minerals were sourced from the US or its trade partners. The changes to the EV tax credit qualifications went into effect on 19 April. The move has raised concerns that the US's transition to EVs may be hampered by the unavailability of the full tax credit.

via Yahoo Finance|
#automakers#battery-components#critical-minerals
automotive2 years ago

"New EV Tax Credit Rules Limit Eligibility to Six Models"

Starting April 18th, only six electric vehicles (EVs) will qualify for the full $7,500 federal tax credit, as per the new guidelines released by the IRS. The updated rules pertain to EV batteries and cut out China as an approved trading partner, resulting in a shorter list of qualifying EVs. However, EVs that meet certain requirements can still qualify for a half credit of $3,750. The list is expected to grow as automobile manufacturers make changes to meet the rules, but the rules will grow stricter over time.

via Engadget|
#automotive#battery-components#evs
business2 years ago

Confusion Looms Over EV Tax Credit Eligibility After New Rules Released

The US Treasury Department has issued new guidelines for the EV tax credit, which will limit the number of vehicles that qualify for the tax break. The new rules require that 50% of a vehicle's battery must be assembled or manufactured in the US to qualify for up to $3,750 of the credit, and 40% of the critical minerals in its battery must be sourced from the US or one of the 20 countries the US has a free trade agreement with. Vehicles that contain battery parts from "a foreign entity of concern" will be unable to claim any of the credit starting next year.

via CNET|
#battery-components#business#critical-minerals
business2 years ago

Navigating the Confusing World of EV Tax Credits: What You Need to Know.

New guidance issued by the Treasury on the Inflation Reduction Act means several electric vehicle models may no longer qualify for the federal tax credit of up to $7,500. The credit amount will depend on whether the vehicle meets the critical mineral and/or battery component requirements. Vehicles assembled in North America that exceed a Manufacturers Suggested Retail Price of $80,000 for a van, pickup truck, or SUV, or $55,000 for any other vehicle are eligible. The critical mineral requirement mandates a predetermined percentage of the value of the critical minerals contained in the battery must be extracted or processed in the U.S. or in countries with which the U.S. has a free trade agreement.

via Benzinga|
#battery-components#business#critical-minerals
business2 years ago

EV Tax Credit Rules Tightened, Some Vehicles Excluded

The IRS has released updated guidelines for the EV tax credit, with a focus on EV batteries, which will help EV manufacturer Fisker in its supply chain and production planning. The guidelines require EVs to meet sourcing requirements for critical minerals and battery components to qualify for the full $7,500 credit. Critical minerals must be either extracted or processed in the United States, sourced from any country with which the United States has a free trade agreement, or recycled in North America. The battery components portion requires 50% of the parts to be manufactured or assembled in North America in 2023, increasing by 10% each year until it reaches 100% by 2029. The new rules will apply to EVs placed in service on or after April 18th, 2023.

via Fiskerati|
#battery-components#business#critical-minerals
business2 years ago

Stricter EV tax credit rules to limit eligibility and impact climate agenda.

Eligibility for clean vehicle tax credits for electric vehicles (EVs) could be reduced or lost due to new rules that impose critical mineral and battery component sourcing requirements. The proposed guidance requires 50% of the value of battery components to be made or assembled in North America in 2023, reaching 100% in 2029. Additionally, 40% of the value of critical minerals in the battery must be extracted or processed in the US or a country with which the US has a free trade agreement, or be recycled in North America. The new rules are meant to lower costs for consumers, build a resilient industrial base, and spur manufacturing in the US.

via Fox Business|
#battery-components#business#critical-minerals
business2 years ago

US government tightens eligibility for EV tax credits.

The US Treasury Department has issued stricter electric vehicle (EV) tax rules that will reduce or cut tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect. The rules are aimed at weaning the US off dependence on China for EV battery supply chains and part of President Joe Biden's effort to make 50% of US new vehicle sales by 2030 EVs or plug-in hybrids. The EV battery sourcing guidance issued on Friday triggers new requirements for critical minerals and battery components and takes effect for vehicle purchases starting April 18.

via Reuters|
#battery-components#business#critical-minerals