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Battery Sourcing

All articles tagged with #battery sourcing

automotive2 years ago

EV Tax Credit Eligibility Changes Shake Up Auto Industry.

BMW, Nissan, Rivian, Hyundai, Volvo, and Volkswagen are no longer eligible for the $7,500 EV tax credit in the US due to new rules for battery sourcing. The Tesla Model 3 credit will be reduced to $3,750, while all General Motors EVs will still qualify for the full credit. The rules aim to reduce reliance on China for EV battery supplies and boost the US's own capacity to control the supply chain. Automakers are building battery plants in the US, and there is a loophole for ineligible EVs to potentially qualify for a commercial leasing credit.

via TechCrunch|
#automotive#battery-sourcing#ev-tax-credit
automotive2 years ago

"Electric Vehicle Tax Credits: Changes and Updates You Need to Know"

The federal tax credit for the Tesla Model 3 RWD will be reduced from $7,500 to $3,750 starting April 18. The tax credit reduction is due to the battery pack of the Model 3 RWD being produced and assembled in China, which does not meet the eligibility criteria for the full tax credit. Customers who purchase more expensive variants of the Model 3, such as the Model 3 Performance, will still be eligible for the full $7,500 tax credit. The adjusted gross income limitations for claiming the electric vehicle tax credit are $300,000 for married couples filing jointly, $225,000 for heads of households, and $150,000 for all other filers.

via TESLARATI|
#automotive#battery-sourcing#electric-vehicles
business2 years ago

EV Tax Credit Rules Tightened by Biden Administration.

Tesla's Model 3 RWD variant will be eligible for the $7,500 Inflation Reduction Act (IRA) EV tax credit until April 18th, 2023, due to updated guidelines that will be released on that date. The new guidance will affect the eligibility of several electric vehicles (EVs) for full or partial credits, including Tesla's Model 3 RWD, which uses CATL's LFP cells produced and assembled in China. Meanwhile, Tesla's FSD Beta v11.3.4 is rolling out to employees, with improvements in performance and safety, as the company continues to refine its autonomous driving technology.

via Not a Tesla App|
#autonomous-driving#battery-sourcing#business
business2 years ago

US Battery Guidance Threatens EV Tax Credits

The US Department of Treasury's battery sourcing guidance for the Inflation Reduction Act (IRA) EV tax credits, set to be released on April 1, 2023, may result in fewer EVs qualifying for full or partial credits. The guidance requires 50% of the value of battery components to be produced or assembled in North America and EV batteries to source at least 40% of their minerals from the US or countries with free trade agreements. The battery guidance on mineral sourcing will increase by 10% annually, with EV batteries required to source 50% of their minerals from the US or countries with free trade agreements by 2024.

via TESLARATI|
#battery-sourcing#business#electric-vehicles
automotive2 years ago

Battery sourcing guidance threatens EV tax credits and political pressure mounts.

The US Treasury Department's guidance on battery sourcing requirements for electric vehicle tax credits, due out by Friday, will result in fewer vehicles getting full or partial credits, according to a US official. The guidance will clarify the rules for automakers to qualify for the tax credits, which require 50% of the value of battery components to be produced or assembled in North America and 40% of the value of critical minerals sourced from the US or a country with which it has a free trade agreement. The rules are aimed at weaning the US off dependence on China, which dominates the global supply chains of products like EV batteries and solar panels.

via Reuters|
#automotive#battery-sourcing#electric-vehicles