The EV tax credit rules are being delayed until March 2023 — here’s what that means for you
Posted On December 20, 2022
Besides its more obvious stated goal of reducing inflation, the Biden administration’s Inflation Reduction Act (IRA) was designed to force profound changes in the electric vehicle market. The legislation revises EV tax credit rules as it seeks to build up domestic battery manufacturing so that the US doesn’t cede the supply chain to China.
It’s also profoundly confusing, hinging new EV tax credits not just on where the cars are built but also where batteries are assembled and where battery materials are sourced from. These rules were all supposed to take effect on January 1st, 2023 — that’s next weekend for anyone keeping track.
Now, however, it’s going to take a little longer for all of the new provisions to be in place. On Monday,…