Automakers ‘Scrambling’ to Meet New EV Tax Credit Rules: Podesta

Automakers are “kind of scrambling” to meet new rules to be eligible for the electric vehicle tax credit being unveiled by the Treasury Department this week, John Podesta, senior advisor to the president for clean energy innovation and implementation, said Tuesday.

• The rules, required by the Inflation Reduction Act, include new sourcing standards for batteries and critical minerals, are meant to encourage more North American EV and battery production
• “I think they know where we’ve been headed so I think they are getting prepared for this,” Podesta said in an interview following remarks at a conference
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