The Biden administration is finalizing rules that will help determine whether companies will find it profitable enough to participate in America’s electric vehicle industry. "The rules,
which are expected to be proposed this week, will dictate the extent to which foreign companies, particularly in China, can supply parts and products for American-made vehicles that are set to receive
billions of dollars in subsidies," per The New York Times. "The administration is offering up to $7,500 in tax credits to Americans who buy electric vehicles, in
an effort to supercharge the industry and reduce the country’s carbon emissions. The rules will determine whether electric vehicle makers seeking to benefit from that program will have the
flexibility to get cheap components from China."advertisement
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Read the whole story at The New York Times »
