EV tax credit rules get extension in big win for automakers

The U.S. Department of the Treasury extended electric vehicle tax credit rules, allowing some minerals from China for battery components to be exempt until 2027. This decision aims to ease automakers' transition from foreign materials but has faced criticism for potentially delaying the reduction of U.S. dependency on foreign entities for EV materials. Critics, including Senator Joe Manchin, argue that this undermines efforts to strengthen domestic supply chains in the EV industry.