Biden grants automakers some flexibility on battery minerals in final EV tax credit rules

Image: Hugo Herrera / The Verge The Biden administration is giving automakers a little leeway around some of the strict rules regarding eligibility for the government's $7,500 tax credit. The final guidance, which was released today, gives car companies a two-year exemption from provisions in the Inflation Reduction Act (IRA) intended to disqualify EVs with battery minerals from countries like China, Russia, Iran, and North Korea -- so-called "foreign entities of concern" (FEOC). The exemption o...