Week in Insights: EV Tax Credits Are Heading for a Cliff Again

Curated by Daniel Xu

The landscape is shifting once more for electric vehicle incentives. We’ve been sounding the alarm on this for more than a year, and now the deadline is upon us—on April 18, 2024, only a handful of EVs will still qualify for the full $7,500 federal EV tax credit.

The Inflation Reduction Act is responsible for these changes—specifically, its stringent requirements on material sourcing, vehicle assembly, and supply chains.

To qualify for the full credit, a vehicle, including its battery, must have its materials mainly sourced and its final assembly completed in North America or ...