News Snapshot:
Text size The IRS has updated the rules on what electric vehicles qualify for purchase tax credits. Shares of Tesla and other auto makers are up, although investors still don’t know all they need to. It isn’t clear what cars qualify for what credits. “What we need here is a simple list of qualifying vehicles,” says accounting expert Bob Willens. According to guidance the Treasury Department provided Friday, an EV must be assembled in North America to qualify for a full credit. That hasn’t changed, but requirements regarding the sourcing of critical minerals “and/or” battery components were added. The full...
