Inflation Reduction Act in US proposes new material sourcing conditions for EV tax credit qualification

News
Policy & Regulation

Critical EV battery and motor materials will need to be processed in the US or in a FTA partner country for the tax credit to apply

The US Senate on 7 August passed the Inflation Reduction Act, a USD740 billion economic package that extended the US electric federal tax credit system to 2032, removed the credit system’s cap for individual automakers, and added new material sourcing conditions for qualification of the credit.

Thank you for visiting S&P Global AutoTechInsight.

*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.

To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.

Already a subscriber? Please log in here

preload preload preload preload preload preload