China is well and truly winning the EV race — and now the White House has unveiled new rules to try and keep Chinese companies out of the US electric car market.
The US government announced plans on Friday to make it more difficult for US-made electric vehicles with Chinese parts to qualify for crucial tax breaks, as it seeks to challenge China's EV dominance.
Under the Inflation Reduction Act (IRA), the climate bill passed by Congress last year, buyers of US-made EVs were eligible to receive a $7,500 per vehicle tax break.
Read Article