The update splits the credit in two: $3,750 is awarded for a vehicle’s battery production and another $3,750 for proper materials sourcing. The new rules require automakers to manufacture EV battery packs in North America and to source key battery materials from here or from countries with which the U.S. On April 17, the qualification requirements were once again revised for any vehicles placed into service on or after April 18. However, the new law has lifted the old 200,000-vehicle sales limit, so GM and Tesla vehicles again are eligible.
These caps disqualify some vehicles that would meet the criteria but are too expensive. 1, the new law increased the minimum battery size to 7 kilowatt-hours and set new price caps for vehicles to qualify: $55,000 for cars, wagons and hatchbacks and $80,000 for SUVs, vans and light trucks with a gross vehicle weight rating of less than 14,000 pounds. An initial requirement that the vehicles be assembled in North America took effect immediately last August. The revised credit applies to new EVs and PHEVs bought by individuals for personal use in 2023 or later.
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