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InsideEVs
InsideEVs
Business
Ben O'Hare

Explained: The Updated EV Tax Credit Rules

Joe Biden

The Inflation Reduction Act, signed into law by President Joe Biden last Tuesday, saw one obligation for the $7,500 Federal Tax Credit come into immediate effect. For now, EVs and PHEVs must be assembled in North America in order to qualify for the tax credit. That's the only new rule until January 2023, which is when more obligations will come into place.

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