On Monday, the US Treasury announced how the new battery sourcing requirements would affect electric vehicle manufacturers, releasing the list of vehicles eligible for the full $7,500 tax credit, as well as the list of those eligible for the partial $3,750 credit and the vehicles that no longer qualify. As reported by Automotive News, 10 EVs get the full credit, seven get the partial credit, and nine previously eligible models no longer qualify.
After several vehicles gained credit eligibility in February, the Treasury’s new guidance makes many of them ineligible again, but according to John Bozzella, the CEO of the Alliance for Automotive Innovation, this is as good as things can be.
“March 2023 was as good as it gets,” he wrote in a blog post. “Given the constraints of the legislation, Treasury’s done as well as it could to produce rules that meet the statute and reflect the current market.”