SimonCA schreef op 26 augustus 2022 04:50:
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The tax credit is complicated.
$7,500 tax credit if you buy a new electric-vehicle, or $4,000 if you get a used one.
Only singles with incomes up to $150,000 a year and couples who file taxes jointly who earn up to $300,000 will qualify.
There are some major requirements, both on how the car and its battery are produced and the overall price of the vehicle.
To start with, to get the full tax credit, the car has to be assembled in North America. Sedans have to be under $55,000 to qualify, and the cost of trucks, vans, and sports utility vehicles can't exceed $80,000.
The price caps for used electric vehicles is $25,000, but the cars won't have to comply with the made-in-America requirements.
A certain percentage of minerals in the EV battery must come from North America or a country that has a free trade agreement with the U.S.
Much of the battery components must also be manufactured or assembled in North America. That's expected to complicate things for auto companies.
"That's going to be a huge burden and hurdle to overcome," says Carla Bailo, CEO of the Center for Automotive Research. "We don't have the mining, we don't have the critical minerals that are needed in North America or from our free trade partners, and almost 90% of the refining is done in China".
Currently, no electric vehicle on the market will qualify for the full tax credit when battery requirements take effect in 2023
www.kqed.org/news/11923224/you-can-ge...