The Biden administration hopes to use generous tax credits to boost electric-vehicle sales and push automakers away from Chinese suppliers. A key material in EV batteries shows why it is proving hard to do both at once.
A 2022 law that President Biden championed revamped a
$7,500 tax credit for consumers who buy electric vehicles. Among the new rules, the law stipulated that the credits can’t go toward buying any EVs containing battery parts from a “foreign entity of concern,” which includes China.What to Read Next
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December 13, 2023 at 05:00PM
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Why Biden's EV Tax Credit Could Become Hard to Claim - The Wall Street Journal
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