In September, Michael Durschlag bought a fire engine red Kia EV6, an all-electric crossover, for $70,000, expecting he would snag a $7,500 federal tax credit when he filed his return.
But the biotech executive in San Diego turned out to be wrong.
The sweeping energy law Congress passed in August included a provision that says electronic vehicles purchased on or after Aug. 16, 2022, must be assembled in North America to qualify for a tax credit.
His Kia, made in South Korea, didn’t count.