that could be used to defray the cost of purchasing an electric vehicle.
As of Tuesday, tax credits will no longer be available for vehicles assembled outside of the U.S., Canada or Mexico. But people who signed purchase contracts for EVs before Tuesday could still get the credits. The remaining electric vehicle provisions of the law are effective Jan. 1. File: A 2019 pre-owned Nissan Leaf SV was the only electric vehicle on the lot at Milford Nissan in Massachusetts this summer. While automakers have been announcing U.S. battery factories and trying to secure domestic mineral supplies, a large industry trade association has warned that the vast majority of EVs now on sale in the U.S. wouldn’t qualify for the full credit under the Inflation Reduction Act.
"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."Under the law, an electric vehicle must contain a battery built in North America with minerals mined or recycled on the continent to be eligible for the credit.
If the metals requirement isn’t met, the automaker and its buyers would be eligible for half the tax credit, $3,750.
Meanwhile Ford then increased the price of their electric F-150 $8500 …
Using the tax-dollars of the few who pay taxes to help everyone else buy something sold by huge corporations that donate to Democrats.... If you think this bill is a 'good thing' you clearly have no skin in this game.
Nice. Drop the price from 68,000 to 60,500. Totally affordable. lol TURNTHEANIMAL
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