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Virtually No EVs Currently Qualify For Expanded Tax Credits
09 Aug 2022 | Abstracted from Road&Track
The devil is in the battery-sourcing details.
"Democratic lawmakers added a concession to the new rules which will require at least 40 percent of a vehicle’s battery materials to be sourced from the United States or one of our trade allies by 2024.
"The problem with that is the fact that China is currently responsible for over three-quarters of the world’s battery production. The U.S. currently only makes up around 8 percent..."
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