Senate bill would make 70 per cent of 72 U.S. electric, plug-in hybrid and fuel-cell EVs ineligible for tax credit
Most electric-vehicle models would be ineligible for a $7,500 tax credit for U.S. buyers under a Democratic proposal in the U.S. Senate, a group of major automakers said on Friday.
“None would qualify for the full credit when additional sourcing requirements go into effect,” he said. An analysis by the Congressional Budget Office on Wednesday suggested just 11,000 new EVs would use the credit in 2023. The bill includes rising requirements for the percentage of battery components originating from North America based on value. After 2023, it would disallow batteries with any Chinese components.
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