The Biden administration has eased restrictions for its electric vehicle tax credit, giving automakers more time to adjust to sourcing requirements meant to reduce reliance on China for materials. The Treasury Department announced Friday that it has finalized rules for a tax credit that serves to encourage sales of electric vehicles while taking aim at

The department said it would give automakers until 2027 to remove some hard-to-trace minerals like graphite contained in anode materials and critical minerals contained in electrolyte salts, binders,

The U.S. government has loosened some rules governing electric vehicle tax credits a bit, potentially making more EVs eligible for credits of up to $7,500