The percentage of battery components that must be manufactured or assembled in North America to qualify for part of the tax credit varies by year:
- For 2023: 50% of the battery components’ value must be manufactured or assembled in North America to qualify for a $3,750 credit.
- For 2024 and 2025: 60%.
- For 2026: 70%.
- For 2027: 80%.
- For 2028: 90%.
- Starting in 2029: 100% of the battery components’ value must be manufactured or assembled in North America to meet the full requirement.
Note that vehicles meeting both the critical mineral and the battery component requirements can qualify for a total tax credit of $7,500.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-percentage-of-battery-components-must-be-manufactured-in-north-america-to-qualify-for-the-tax-credit/
