Tesla, Nissan Questioned by House GOP Over EV Credit Agreements

Tesla Inc., Nissan Motor Co. and the Biden administration were pressed by House Ways and Means Chair Jason Smith (R-Mo.) about potential “foreign entities of concern” benefiting from Inflation Reduction Act electric vehicle tax credits.

Smith urged Treasury Secretary Janet Yellen in a Tuesday letter to clarify in regulations the definition of “foreign entities of concern” to prevent EV credits flowing to countries like China. Smith also requested more details from Tesla and Nissan over whether they have agreements with entities that may fall into that category, saying Elon Musk and Nissan executive Jérémie Papin didn’t adequately answer ...