WASHINGTON (Reuters) – The Biden administration said on Tuesday about 20 models will still qualify for electric vehicle tax credits of up to $7,500 through the end of 2022 under legislation signed by President Joe Biden.
The law Biden signed Tuesday immediately ends credits for about 70% of the 72 models that were previously eligible, said an auto trade group.
To qualify, EVs must now be assembled in North America.
New restrictions on battery and mineral sourcing and price and income caps take effect on Jan. 1 that will make all or nearly all EVs ineligible, the auto group said.
(Reporting by David Shepardson; Editing by Chris Reese)
