U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill

U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill

U.S. automakers say 70% of EV models would not qualify for tax credit under Senate bill Register now for FREE unlimited access to Reuters.com WASHINGTON, Aug 5 (Reuters) - Most electric-vehicle models would be ineligible for a $7,500 tax credit for U.S. buyers under a Democratic proposal in the U.S. Senate, a group of major automakers said on Friday. Automakers have been privately expressing concern about the proposal's increasing requirements for vehicles' batteries and critical-mineral contents to be sourced from the United States. John Bozzella, heads of the Alliance for Automotive Innovation that represents General Motors (GM.N), Toyota Motor (7203.T), and Ford Motor among others, said a July 27 proposal by Senators Chuck Schumer and Joe Manchin would make 70% of 72 U.S. electric, plug-in hybrid and fuel-cell EVs ineligible …
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