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29.12 - 20:05
U.S. Delays Key Step for EV Subsidy Program After Foreign Pushback
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WASHINGTON—The Biden administration on Monday delayed proposing detailed rules for new tax incentives for electric vehicles, following strong pushback from European and Asian allies that the subsidy program discriminated against their companies.
The Treasury Department said details on the battery-sourcing requirements that electric vehicles must meet to qualify for up to $7,500 in tax credit will be released in March, instead of by the end of this year as earlier planned.
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