A bunch of EVs are going to lose their tax credit starting January 1st

Photo by Sean O’Kane / The Verge

Electric vehicles with batteries that contain minerals and materials sourced from China won’t be eligible for the $7,500 federal EV tax credit starting on January 1, 2024, according to guidelines recently released by the Internal Revenue Service.
That means a lot of EVs are about to lose their eligibility — chief among them, the Ford Mustang Mach-E. Ford sent out a notice to dealers recently stating that it is “unlikely that any Mustang Mach-Es will qualify for the Federal Tax Credit beginning on 1/1/24,” according to a report in Cars Direct.
Ford spokesperson Martin Gunsberg confirmed the notice. “The rules proposed by Treasury and Energy about Foreign Entities of Concern within the Inflation Reduction Act are detailed and extensive,”…

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