From The Verge, December 6:
EVs with battery materials manufactured in China won’t be eligible for the $7,500 clean car tax credit starting in 2024. And that includes the Ford Mustang Mach-E.
Electric vehicles with batteries that contain minerals and materials sourced from China won’t be eligible for the $7,500 federal EV tax credit starting on January 1, 2024, according to guidelines recently released by the Internal Revenue Service.
That means a lot of EVs are about to lose their eligibility — chief among them, the Ford Mustang Mach-E. Ford sent out a notice to dealers recently stating that it is “unlikely that any Mustang Mach-Es will qualify for the Federal Tax Credit beginning on 1/1/24,” according to a report in Cars Direct.
Ford spokesperson Martin Gunsberg confirmed the notice. “The rules proposed by Treasury and Energy about Foreign Entities of Concern within the Inflation Reduction Act are detailed and extensive,” he said. “Our colleagues are working through them and what they might mean for Ford.”
Tesla is also warning customers that certain versions of the Model 3 — the Rear-Wheel Drive and Long Range trims — will only be eligible for half of the $7,500 tax credit starting next year. The Nissan Leaf and Volkswagen ID.4 could be impacted as well....
....MUCH MORE
