![]() ![]() ![]() Supporters of the new rules say they will wean the auto industry off its reliance on foreign countries, specifically China, and encourage domestic production of electric vehicles and batteries – a goal of the Biden administration. And unlike under current criteria, vehicles would have to be produced in North America to qualify for the credits. Opponents of the new guidelines contend that pricing and sourcing rules, specifically for crucial raw materials used for the batteries on the vehicles, are too aggressive and could result in most EVs falling out of qualification for the federal incentive, at least in the short term. Automakers have relied on the credits to assist in lowering the prices on the vehicles for consumers, as costs of lithium and cobalt needed for the batteries have soared. ![]()
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