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Complex rules threaten full EV tax credit in 2023
The $7,500 federal EV tax credit, part of the Inflation Reduction Act, hinges on where vehicles and batteries are made, affecting many models. While early 2023 may see full credits for some buyers under income and price limits, Treasury rules later will tighten eligibility. Major automakers like GM and Tesla face phased benefits, as battery and mineral sourcing rules evolve and North American production pressures rise.
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