For starters, the vehicles must be made in North America to be eligible.
WASHINGTON — As part of the rollout of a huge new climate, tax and healthcare law, the U.S. government is moving forward with its plan to award new tax credits to electric vehicle purchasers.
But some models may exceed sticker-price limits in the complex law, and it remains to be seen whether automakers will be able to find minerals or manufacture batteries that can qualify for the credits. Passage of the measure set off a scramble by automakers to speed up efforts to find North American-made batteries and battery minerals from the U.S., Canada or Mexico to make sure EVs are eligible for the credit.
“The No. 1 obstacle to EV adoption is cost,” said Michelle Krebs, executive analyst with Cox Automotive. “So a $7,500 difference is significant on one vehicle compared to another for the part of the market that this is aimed at.” If the metals requirement isn’t met, the automaker and its buyers would be eligible for half the tax credit, $3,750.
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