The Department of the Treasury announced that decisions around some aspects of the EV tax credits will be delayed until March. By delaying rules around where battery minerals are sourced but allowing other rules to go into effect on January 1st, the Treasury Department has created an interesting situation for several North American-built EVs.
Under the new rules, several EVs will now remain eligible for the full EV tax credit of $7,500 for the first few months of 2023 and possibly longer. The big winners (for now) are North American-built EV sedans and smaller cars that start under $55,000 and SUVs and trucks that start under $80,000.
Ford, Nissan, Rivian, and Volkswagen’s North American-built EVs are also now eligible for the full tax credit come January 1st, regardless of where their batteries are sourced. Hyundai and Kia, for example, are excluded because their EVs are built in South Korea.
