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Inflation Reduction Act mandates escalating battery critical mineral requirements to qualify for EV tax credit

Green Car Congress

The Inflation Reduction Act , which the Senate passed last week, revamps the electric vehicle Federal tax credit of $7,500 ( earlier post ). Among the changes are an extension of the tax credit through 2032, the removal of the unit-sales cap of 200,000 per OEM, and a new mandate for qualified cars being assembled in North America.

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Nissan Sakura EV review, EV tax credit goes point-of-sale, battery recycling: Today’s Car News

Green Car Reports

EV battery recycling is already booming in China. EV shoppers will soon need to ask the dealership some tough questions about the tax credit. And a drive in a very small EV reminds us what America is missing about them. This and more, here at Green Car Reports. In scaling up EV sales, is smaller still better?

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Hyundai says its first EV plant will open this year to gain the $7,500 tax credit

Electrek

The first Hyundai plant dedicated to building EVs and batteries in the US will be open as soon as this October. According to Hyundai Motor America CEO Jose Munoz, the brand is “pulling ahead” to gain eligibility for the $7,500 EV tax credit.

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Tesla Model 3 Highland leases qualify for IRA tax credit loophole

Teslarati

The Tesla Model 3 Highland was recently launched in North America. Tesla models eligible for IRA tax credits in 2024 The loophole lies in the IRA’s tax credit qualifications for commercial vehicles. EVs that qualify for the full $7,500 tax credit must be follow the IRA’s assembly and battery requirements.

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Volkswagen ID.4 with SK ON battery components eligible for full $7,500 tax credit in 2024

Teslarati

4 units with SK On battery components qualify for the Inflation Reduction Act’s (IRA) full $7,500 federal tax credit for electric vehicles. 4 starts with an MSRP of $38,995 for the Standard variant, which has a 62 kWh battery and an EPA-estimated range of 209 miles. 4 with two battery and powertrain options.

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Volkswagen confirms most MY23 and MY24 ID.4s are eligible for full $7,500 Federal Tax Credit

Electric Cars Report

Volkswagen of America announced that the MY23 Volkswagen ID.4 4 with SK On battery components and MY24 Volkswagen ID.4 4 models (when released with SK On components) that are placed in service in 2024 will be eligible for the full $7,500 Federal Tax Credit on a purchase by a qualifying purchaser, making the ID.4

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New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

Green Car Congress

US Senators Debbie Stabenow (D-MI), Lamar Alexander (R-TN), Gary Peters (D-MI), and Susan Collins (R-ME) along with Congressman Dan Kildee (MI-05) introduced the Driving America Forward Act, bipartisan legislation to expand the electric vehicle and hydrogen fuel cell tax credits. ITC Holdings Corp.,