Some automakers say a lesser noticed IRA provision for 'commercial clean vehicles' could be used to boost EV manufacturers and address foreign concerns.
Hyundai and Kia want Treasury to allow people leasing EVs to be able to qualify for up to a $4,000 tax credit for used EVs if they buy vehicles when leases expire.minerals and component sourcing restrictions, sets income and price caps for qualifying vehicles and seeks to phaseout Chinese battery minerals or components.
The commercial credit does not have the same sourcing or pricing restrictions but has an"incremental cost" eligibility test that might prove complex. Some automakers want Treasury to make it easier to ensure most commercial light-duty vehicles qualify for $7,500 tax credits. said last week"there are tweaks that we can make that can fundamentally make it easier for European countries to participate."
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