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Ev Tax Credits: US Treasury, Energy officials to testify at Senate EV incentive hearing, ET Auto

Ev Tax Credits: Deputy Treasury Secretary Wally Adeyemo and Deputy Energy Secretary David Turk will appear at the hearing to examine EV incentives including the federal government s role in fostering reliable electric vehicle supply chains, the committee said on Friday. ....

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Tesla's Model 3 Tax Credit Slashed: What Buyers Need to Know

Starting next year, Tesla will cut the federal tax credit for two Model 3 trims in half. Tesla has officially confirmed a reduction in the federal tax credit for two Model 3 trims, slashing it by half, starting next year. ....

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New US Guidelines Impact EV Tax Credits for Chinese Parts in 2024

The regulations specifically target the involvement of Chinese firms in supplying materials for EVs eligible for federal tax credits. ....

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US senator voices concern over China-Korea joint EV battery ventures, calls for strict rules

A U.S. senator called on the Treasury Department on Monday to impose the strictest possible standards to preclude Chinese battery firms from getting electric vehicle (EV) tax credits, while expressing concern over their pursuit of joint ventures in Korea and Morocco. ....

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Senator asks Treasury to bar Chinese battery firms, minerals from US EV tax credits, ET Auto

Manchin, who chairs the Senate Energy Committee, raised concerns in a letter to Treasury Secretary Janet Yellen about reports Chinese battery companies are actively pursuing business opportunities to take advantage of the credits, adding U.S. tax credits "cannot be allowed to be hijacked by adversaries engaging in mineral laundering." In 2022, Congress passed the Inflation Reduction Act barring USD 7,500 in future consumer EV tax credits if any battery components are manufactured or assembled by a "foreign entity of concern." ....

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