The US Treasury will issue more guidance this week on the electric vehicle tax credit, which was overhauled by the Inflation Reduction Act of 2022. The law established income limits and price caps for the break, worth up to $7,500.
It also required that a vehicle's final assembly be in the US and that an increasing percentage of its battery and "critical minerals" be sourced from the US or a free-trade partner.  
Most of the guidelines have gone into effect already, but final battery standards were delayed until now while Treasury hashed out how it would define key terms like processing, extraction and recycling.  
Whatever the agency announces, it will mean at least some vehicles that qualified for the full $7,500 credit in 2022 may only earn half now -- or nothing at all. 

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US Treasury Department May Screw You Over On That EV You Were Getting

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