GM's EVs Will Qualify For Full Tax Credit Within Three Years | Carscoops carscoops
. “It just takes a couple of years to ramp up based on our expectations with the supply moves that we’ve already made.”
Once it is eligible for the full tax credit, GM’s work won’t end. From next year, 40 per cent of the minerals used in the batteries of its EVs need to be manufactured or assembled in the U.S. or through a free-trade partner but each year after, the requirement will increase by 10 per cent. Similarly, the percentage of battery components that need to be manufactured or assembled in North America will need to increase by 10 per cent each year after 2023.
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