The Biden administration’s new proposed rules for which electric vehicles (EV) qualify for Inflation Reduction Act tax credits seek a balancing act between avoiding reliance on China and slowing down the transition.
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The rules on “foreign entities of concern,” which are ineligible for the credits, disqualify entities whose boards are at least 25 percent controlled by China or other affected countries, which include North Korea, Iran and Russia.
The rules, set to take effect in January, represent a tightrope the administration has attempted to walk that creates domestic jobs while running up against China’s market dominance for much of the refining and production of critical minerals used in batteries.
White House renewable energy adviser John Podesta struck an optimistic note, telling reporters the rules will “support good-paying U.S. jobs … paving the way for an electric transportation future that’s built here in America.”
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Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
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