How the government defines battery materials from a ‘foreign entity of concern’ could have sales implications for Ford Motor and other makers of electric vehicles.
Photo: jeff kowalsky/Agence France-Presse/Getty ImagesThe Biden administration is expected to release tax-credit rules on Friday that could shape the American market for electric vehicles, people familiar with the matter said.
The U.S. last year revamped a $7,500 tax subsidy for people who buy new EVs.
One of the changes says consumers won’t be able to claim the credit if they purchase cars containing battery materials from a “foreign entity of concern.” Lawmakers included the rule in the Inflation Reduction Act to push automakers to rely less on dominant Chinese suppliers.
Persons:
jeff kowalsky, Biden, won’t, ”
Organizations:
Ford Motor, Agence France, U.S, ” Lawmakers