in the U.S., it will take years for those efforts to pay off. The minerals and components needed for batteries are simply not yet made in large quantities in the U.S.for the full $7,500 will not be able to meet the new sourcing standards, and see the credit cut in half or eliminated, effective immediately.
The White House also noted that the federal government is providing other incentives for EVs and domestic manufacturing, from charging infrastructure to grants, loans and other tax credits. Manchin has publicly expressed frustration with the Biden administration's implementation of the EV tax credits, including the fact that the credits have been available for the last three months without the government enforcing the battery sourcing requirements.
The exact definition of terms has been the subject of fierce debate in recent months, with automakers, mining companies, battery-makers, the Biden administration and Manchin all taking positions on things like the meaning of"processing" versus"manufacturing," a significant distinction in these tax credits.