Thursday, August 18, 2022 6:41:53 AM
As part of the The Inflation Reduction Act........
The IRA extends and expands the existing electric vehicle (EV) subsidy of up to $7,500 but conditions the tax credit on the sourcing of the mineral content of the battery.
At least 40% of the critical metals in the battery - lithium, nickel, cobalt and manganese - must come from the United States or a Free Trade Agreement (FTA) partner. That percentage rises to 80% in 2026.
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