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For consumers shopping for an EV, new rules mean fewer models qualify for a tax credit
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File - Assembly line worker Janice DeBono looks over a 2023 Chevrolet Bolt EUV at the General Motors Orion Assembly, June 15, 2023, in Lake Orion, Mich. Government tallies show only 11 of the more than 50 EVs on sale in the U.S. are eligible for tax credits so far this year. Still qualifying for credits are the Tesla Model Y SUV, Chevrolet Bolt compact car and Rivian R1T pickup truck. - photo by AP Photo/Carlos Osorio, File
DETROIT (AP) — U.S. consumers looking to get a tax credit on an electric vehicle purchase have fewer models to choose from under new rules that limit the countries where automakers can buy battery parts and minerals — a potential blow to efforts to reduce planet-warming emissions from autos. The Inflation Reduction Act signed into law in 2022 expanded tax credits ranging from $3,750 to $7,500 for purchases of new and used EVs, an effort by the Biden administration to stoke demand toward its goal that half of all new vehicle sales be electric by 2030. But qualifying for the credits depends on requirements related to their battery makeup and minerals that get tougher each year.