US says about 20 models will get EV credits through the end of 2022
The Biden administration said about 20 models will still qualify for electric vehicle tax credits of up to $7,500 through the end of 2022 under legislation signed by President Joe Biden.
The law’s signing immediately ends credits for about 70 percent of the 72 models that were previously eligible, said the Alliance for Automotive Innovation, an industry trade group.
To qualify, EVs must now be assembled in North America.
New restrictions on battery and mineral sourcing and price and income caps take effect on Jan. 1, which will make all or nearly all EVs ineligible, the auto group said. The new sourcing rules will increase annually.
