Contact: Noah Barnes, Electrification Coalition
noah@electrification.org, (202) 461-2371
WASHINGTON—Today, the Treasury Department released the proposed guidance for the sourcing provision requirements on the federal clean vehicle tax credit, which includes electric vehicles (EVs). This will serve as interim guidance, effective April 18, for consumers purchasing new EVs until the rulemaking process is finalized.
Electrification Coalition Executive Director Ben Prochazka released the following statement:
“The sourcing provisions in the tax credit have already prompted significant conversations on how the U.S. can access a robust and reliable supply chain for the battery components and critical minerals needed to manufacture EVs. These provisions ultimately encourage the development of a secure, diversified critical mineral supply chain, ensuring our automotive sector cannot be used as political leverage by countries we depend upon. As automakers seek to comply, the federal clean vehicle tax credit will see more EVs on the road and establish a robust domestic EV market, thereby reducing our dependence on oil and the associated national and economic security risks.
“The information released today is critical for auto manufacturers seeking to make their vehicles eligible for the credit. At first glance, we expect the proposed guidance will help get more EVs on the road in a way that supports national security.”
“We applaud the Treasury for working tirelessly to provide this historic, foundational guidance that has already spurred a series of manufacturing announcements that bring EV jobs and economic development to the U.S. As was discussed in great detail during this week’s SAFE Summit, we are ushering in our new minerals-based economy, ensuring a strengthened national security as these clean vehicles are powered by stably-priced, domestically-produced electricity.”
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About the Electrification Coalition
The Electrification Coalition is a nonpartisan, nonprofit organization that promotes policies and actions to facilitate the widespread adoption of plug-in electric vehicles (EVs) on a mass scale to overcome the economic, public health and national security challenges that stem from America’s dependence on oil. ElectrificationCoalition.org