Teslarati

JANUARY 2, 2024

The most significant changes to the IRA related to EV components sourced from foreign entities of concern (FEOC), which included countries like China, Iran, North Korea, and Russia. The IRS implemented some changes that affected some electric vehicle models on sale in the US market.

Tax Credit 134

Tax Credit Tax North Korea Iran 134

Baua Electric

MAY 3, 2024

Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite. EV battery chain away from China. Automakers have since made changes to supply chains and won restored eligibility for many vehicles.

Tax Credit 52

Tax Credit Tax Chinese Auto 52

Baua Electric

MARCH 13, 2024

Polestar reports that production has already started in Chengdu, China. Via what’s been called the EV leasing loophole applying to commercial vehicles, in a very generous interpretation of the intent, it will be able to keep claiming that amount from the federal government, whether vehicles are built in China or not.

Miles 52

Miles South Carolina North Korea Volvo 52

Green Car Congress

JUNE 19, 2012

The Sea of Japan (called the East Sea by South Korea) is bordered by Japan, North Korea, Russia and South Korea. Offshore areas surrounding Japan, such as the East China Sea, also contain oil and gas deposits; however, development of these zones is held up by competing territorial claims with China, EIA says.

Japan 239

Japan Oil 2013 South Korea 239

Teslarati

JANUARY 2, 2024

China, Russia, and North Korea are on the list of FEOC nations. However, it is likely to do the IRS’s recent rules regarding foreign entities of concern (FEOC). Electric vehicles that have components for FEOC nations do not qualify for IRA tax credits.

Tax Credit 120

Tax Credit Tax Tesla North Korea 120

Teslarati

DECEMBER 12, 2023

government seeks to limit the amount of EV battery materials and components sourced from select companies in certain countries, like China. The new guidance determines what an FEOC is regarding the IRA.

Tax Credit 113

Tax Credit Tax Tesla North Korea 113

Teslarati

DECEMBER 3, 2023

battery supply chain off of China and other sources, it also includes a temporary exemption to the rules that would block incentives for vehicles utilizing critical battery materials from China and other countries that are considered “Foreign Entities of Concern” (FEOC).

Tax Credit 119

Tax Credit Tax North Korea Iran 119