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Canada orders three Chinese companies to divest from Canadian critical minerals companies

Green Car Congress

The Government of Canada has ordered the divestiture of the following investments by three Chinese companies in Canadian critical mineral companies: Sinomine (Hong Kong) Rare Metals Resources Co., Power Metals Corp is a Canadaian mining company exploring and developing cesium, lithium and tantalum assets in Canada.

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Rivian informs customers of IRS guidance on EV tax credits

Teslarati

Rivian emailed customers about the Internal Revenue Service’s (IRS) recently released guidance regarding the EV tax credits under the Inflation Reduction Act (IRA) of 2022. Foley & Lardner LLP explained the latest IRS guidance regarding EV tax credits. These qualifications applied as of January 1, 2023.

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‘Discriminatory’ EV tax credit could bring Mexico-imposed tariffs

Teslarati

The $12,500 electric vehicle tax credit proposed in President Joe Biden’s “Build Back Better” plan is being labeled as “discriminatory” by Mexican Economy Minister Tatiana Clouthier, who said the country is analyzing legal recourse and other actions, including potential tariffs against the United States.

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Honda may build an EV factory in Canada featuring in-house battery cells

Teslarati

Japanese automaker Honda is considering locations to build an electric vehicle (EV) factory in Canada featuring the use of in-house battery cells. It’s also expected to help the automaker gain access to EV tax credits in the U.S. under Inflation Reduction Act (IRA) rules mandating that vehicles are built domestically.

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Proposed Changes to the Federal EV Tax Credit Passed by the House of Representatives

EV Adoption

For electric vehicles, the BBBA includes multiple proposed changes to IRC 30D, more commonly knows as the federal EV tax credit. Perhaps the mostly likely is the requirement for EVs to be assembled in the US in a union factory to qualify for an additional $4,500 tax credit. Tax Credit Becomes Refundable.

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Third Panasonic EV battery plant in the US is still possible 

Teslarati

Swan mentioned that Panasonic was considering a facility in the United States because it was “more incentivized in America than in Canada.” The Internal Revenue Service (IRS) has already released the list of EVs eligible for tax credits under the Inflation Reduction Act (IRA).

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S&P Global: US faces new challenges meeting increased demand for critical minerals spurred by IRA

Green Car Congress

Copper is not currently listed as a critical mineral in the United States and does not qualify for IRA tax credits. Doing so would require a challenging reorientation of trading patterns across several countries given intense international competition for resources, the study says. and Vale Canada Ltd. Rio Tinto Corp.;

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