EV Incentives in the US: impacts on EV markets & supply chain December 10, 2023 | Author: Ellen Hiep

In the United States, electric vehicle adoption has been trending upwards since 2021. One of the primary drivers of this trend is the new clean vehicle tax credit, which offers up to $7,500 in incentives for the purchase of new and pre-owned EVs. In early 2024, the tax credit will only be applicable for EVs that meet battery minerals criteria. Hence, securing minerals is a priority for U.S. automakers to continue supplying demand for clean vehicles. They’re investing in mineral processing, battery manufacturing, vehicle assembly and battery recycling to ensure their EVs meet the eligibility guidelines for the tax credit and remain accessible for Americans.