According to the original bill, half of the EV credit is based on where the components such as batteries are assembled, and half is based on where the actual
minerals for the batteries are sourced. Companies that assemble batteries in the US, but source minerals from abroad would therefore only quality for half of the credit ($3,750 vs the full $7,500). I know that Tesla has secured rights to lithium deposits in Nevada - but I don't think they are actively mining in Nevada yet (I could be wrong).
I think the mineral requirement is aspirational one that almost no one will qualify for and serves as in incentive for mining investment in the US (which I can see the logic behind). Telsa is obviously moving quickly in this direction - even prior to the bill - just not sure how far along they are.
Sources:
The IRS expects to issue guidance on the clean vehicle credit in March. Experts think the rules around car batteries will limit who can get the credit.
www.cnbc.com
As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.Lithium in particular has caught the attention of CEO Elon Musk. Back in 2020, the battery metal...
investingnews.com
The other concerns are just the unknown factors - such as a bill in congress to make the rules retroactive once they are defined and implemented. Very unlikely to pass, but it's there nonetheless.
LOL - Quick update: as of two minutes ago, this is apparently now dead:
Source:
U.S. Senator blocks bid to close EV tax window
Like you, I think those of us with delivery dates in March will be fine - I just wish there was less uncertainty,