Senator Manchin aims to close battery loophole around the $7,500 EV tax credit

Senator Joe Manchin, chairman of the Senate Energy and Natural Resources Committee, has introduced a new bill that squashes a small loophole around the Inflation Reduction Act's (IRA) $7,500 EV tax credit. The new credits are restricted to cars with final assembly in the US, as well as those with a certain amount of North American battery content (an amount that increases every year). But, the U.S. Treasury has delayed its final rules on battery guidance until March, which means EVs with foreign...