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Battle Lines Drawn on Electric Vehicle Tax Credit Specifics

December 16, 2022

Via: JD Supra

As the Internal Revenue Service (“IRS”) begins issuing guidance for every tax provision of the Inflation Reduction Act (“IRA”), efforts have ramped up by foreign governments and automakers on the strict battery component sourcing requirements under the 30D Clean Vehicle Credit program under the law. Under the 30D provision, for an electric vehicle (“EV”) to qualify for the full $7,500 rebate, it must adhere to strict U.S. final assembly and U.S. battery component requirements.

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