Most EVs Won’t Even Qualify For Biden’s New Tax Credit

  • The new Inflation Reduction Act requires that EVs contain a battery built in the U.S., with minerals mined on the continent.
  • China dominates production of lithium and other minerals used to produce EV batteries.
  • An industry group estimated that about 50 of the 72 EVs sold in the U.S. wouldn’t meet the requirements.

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