When the Biden administration’s proposed rule for which vehicles qualify for its revamped EV tax credit goes into effect on April 18, the number of eligible cars will actually shrink.
There is no limit to the number of EVs automakers can sell with tax credits, as long as those vehicles meet the requirements. This is a change from the previous rule, which capped the number of vehicles that could be sold with the tax incentives. What is in the new EV tax credit rule and why is it complicated? The new Treasury rule on EVs comes from the Inflation Reduction Act, the climate and clean energy law passed by Congress last year.
Protectionism leads to increased prices for end consumers and the tax credit will therefore just be a a small compensation.
Forget electric cars , hydrogen cars are the better solution! The battery of the electric cars contain cobalt and lithium, witch in turns is very expensive to extract , especially since child labor , and disposal cost are very high and it’s extremely environmentally harmful
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