Quote:
Originally Posted by Hersbird
As far as 2023 there are no known cars that will qualify for the whole $7500 credit but some may get 1/2 the credit for now.
The battery content rules do kick in in Jan 2023. They default to the outline unless the secretary gives a different input by Jan 2023. That has been widely mis-reported like 2023 is going to be some kind of free-for-all. There is also no free-for-all adding back Tesla or GM in 2022 without the income caps of 2023. Their credits don't resume until 2023 with income caps and battery sourcing in place.
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In 2023 the law requires 40 percent of the critical minerals used in EV batteries to be extracted
or processed in the U.S.
or a country where the U.S. has a free trade agreement in effect or from materials that were recycled in North America
The bold text could be a loophole large enough to drive a Korean made battery celll through.
Materials are a bit fungible. It helps that the USA has a small EV market share vs. Europe and China. If a supplier gets 15% of their lithium from Chile and the rest from another countries they can say the batteries shipped to the USA have the Chilean lithium. Likewise if Bolivian lithium is processed in Korea (or the USA, or Mexico) it is good. Extracted
OR processed - no doubt the auto industry worked hard on that language.
Ford and GM are looking pretty good for 2023 with North American plants and Korean battery suppliers.