To be eligible, electric vehicles or plug-ins have to be manufactured in North America. SUVs, vans and trucks can't have a sticker price greater than $80,000, while cars can't sticker for more than $55,000. There also are income limits for buyers.
Some auto industry analysts say that while $7,500 would be enough to entice people away from internal combustion vehicles, a $3,750 tax credit might not be enough to offset the average U.S. new EV price. The big issue in the rules that are effective Tuesday are limits on the percentage of battery parts and minerals that come from countries that don’t have free trade or mineral agreements with the United States.
Also, at least 50% of the value of battery parts must be manufactured or assembled in North America this year. That requirement rises to 60% next year and in 2025 and jumps 10% each year until it hits 100% after 2028.
Damn $7500 That would pay about 1/2 the cost of a replacement battery!
Tax payer subsidized automobiles. Nice.