Biden Costs EV Makers Some Sales Until US Builds More Batteries

Andrew Scott doesn’t know for sure yet, but the Biden administration may cost Hyundai his business.

The 37-year-old Chicago attorney is in the market for a new vehicle and was considering an Ioniq 5 electric SUV. He may end up buying a plug-in hybrid instead for one reason: The Hyundai model didn’t make the just-released list of EVs eligible for up to $7,500 US tax credits.

“If it’s not on there, I’m not going to buy it,” Scott said of the Ioniq 5. “Buying a car with a subsidy really kind of shifts my buying power. It allows me to purchase a more ...