{"id":50574,"date":"2023-12-08T16:19:01","date_gmt":"2023-12-08T16:19:01","guid":{"rendered":"https:\/\/highwaynewspro.com\/?p=50574"},"modified":"2023-12-08T16:19:01","modified_gmt":"2023-12-08T16:19:01","slug":"china-pushes-back-on-bidens-new-ev-tax-credit-rules","status":"publish","type":"post","link":"https:\/\/highwaynewspro.com\/car-reviews\/china-pushes-back-on-bidens-new-ev-tax-credit-rules\/","title":{"rendered":"China Pushes Back On Biden's New EV Tax Credit Rules"},"content":{"rendered":"

Not everyone\u2019s a fan of the Biden Administration\u2019s new rules for the Inflation Reduction Act. The latest entity to push back on the new rules is China. The IRA\u2019s revisions add new, stricter regulations on battery materials, making things a lot harder for EV manufacturers, and causing China to call foul play.\u00a0<\/p>\n

Basically, the Biden Administration\u2019s revisions remove eligibility for vehicle tax credits if more than trace amounts of battery materials come from countries deemed a “Foreign Entity of Concern,\u201d or FEOC for short. That could mean North Korea, Russia, Iran, and now China \u2013 a big deal. In 2024, completed batteries that are made with components made by FEOCs make a vehicle ineligible, and by 2025 EVs that have battery minerals that go beyond trace amounts that come from FEOCs, also will not qualify. It\u2019s why some variants of the Tesla Model 3 won\u2019t be eligible for the full tax credit next year, and the Mustang Mach-E is now completely ineligible in 2024.<\/p>\n

According to a report from Reuters, China has pushed back, asserting that this policy runs counter to WTO (World Trade Organization) rules. China says this policy is exclusionary and is a \u201c typical non-market orientated policy.\u201d China also asserts that other WTO members have expressed concern about the policy, also agreeing that it violates the basic principles of the WTO. China thinks these policies could seriously impede and disrupt international trade and investment.<\/p>\n

Is China right? It\u2019s not quite clear yet, nor is it arguably all that important to the goal of getting drivers away from gas, and into EVs. Right now, this new policy could have a cooling effect on the EV market. Many EV battery packs for sale in cars on lots today, have\u00a0significant Chinese content, and it\u2019s not exactly possible to change those vehicles to an approved source overnight. Likewise, the potential for Biden to institute a 25% ownership cap on FEOC investment in companies could make plans, like Ford\u2019s planned CATL joint venture battery plant, significantly more complicated. That plant in theory should make things easier for Ford to assemble battery packs stateside and thus make its EVs requalify for subsidies, but if the CATL plant is hurt by Biden\u2019s new rules, then it\u2019s all pretty much for naught.\u00a0<\/p>\n

Gallery: 2022 Ford Mustang Mach-E Ice White Edition<\/h3>\n


\nSource: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Not everyone\u2019s a fan of the Biden Administration\u2019s new rules for the Inflation Reduction Act. The latest entity to push back on the new rules is China. The IRA\u2019s revisions add new, stricter regulations on battery materials, making things a lot harder…<\/p>\n","protected":false},"author":2,"featured_media":50573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nChina Pushes Back On Biden's New EV Tax Credit Rules - Highwaynewspro.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/highwaynewspro.com\/car-reviews\/china-pushes-back-on-bidens-new-ev-tax-credit-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Pushes Back On Biden's New EV Tax Credit Rules - Highwaynewspro.com\" \/>\n<meta property=\"og:description\" content=\"Not everyone\u2019s a fan of the Biden Administration\u2019s new rules for the Inflation Reduction Act. 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