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New EV Rules Mean Fewer Models Eligible for Tax Credit
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wsj.comWASHINGTON—The Biden administration detailed new criteria for an electric-vehicle tax-credit program, a change that officials said they expect will reduce the number of eligible models.
The new rules, issued by the Treasury Department Friday, aim to make the U.S. less reliant on batteries and critical minerals shipped from China. For car buyers to claim the full $7,500 tax credit, the batteries must contain set amounts of components made in North America and critical minerals sourced in the U.S. or from certain friendly countries.
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