Ten EVs will fully qualify for the updated electric-car credit when it takes effect Tuesday and nine will qualify for partial credit, down from 27 vehicles that qualified Monday. Which is to say, time’s ticking if you wanted the feds to chip in on that new Rivian, Nissan, BMW, or other models.
The U.S. Treasury Department on Monday released its list of eligible vehicles under its updated formula for calculating eligibility for the full credit. Vehicles must be assembled in North America to qualify for half of the credit while the other half is contingent on battery materials sourced from North America or a free trade-friendly country. That last requirement will be the toughest for EV makers to comply with, at least initially, and will disqualify tomorrow some cars eligible today.
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