A new bill called the Affordable Electric Vehicles for America Act would allow essentially all EVs in the US to qualify for the $7,500 tax credit, if passed.
The bill would establish a phase-in period for the battery sourcing and manufacturing requirements included in the Inflation Reduction Act (IRA) passed in August.
Foreign leaders from South Korea, Japan, and the EU have lobbied for provision changes, expressing concerns over unfair competitive advantages. According to reports, Hyundai and other automakers are looking for a delay for the battery sourcing and manufacturing provisions kicking in at the end of the year to give them time to build and scale production.