or a country with a free trade agreement, and 50% of the value of the battery components must be manufactured or assembled in North America. The federal government’s requirements for the EV tax credit mandate that 40% of the critical minerals be extracted in the U.S. The federal government confirmed the announcement on its website. For some buyers in the U.S., this is now reality - thanks to government subsidies.Įarlier this week Tesla ( TSLA) announced on its website that all versions of the Model 3 sedan now qualify for the full federal EV tax credit of $7,500 previously the cheaper Model 3 Rear-Wheel Drive (RWD) version qualified for half the amount.
The holy grail for electric vehicle adoption is said to arrive once mainstream EVs could be had for under $30,000.
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