Biden Administration Tightens EV Tax Credit Rules

Just as EV demand appeared to be nearing super-saturation, incentives for buying electric vehicles are starting to fall by the wayside. There are now just 13 EV models that are eligible for a consumer tax credit of as much as $7,500 thanks to new Biden administration rules that took effect on January 1, according to Bloomberg.  Previously, the number had stood closer to 24 models, but for the new year the tax credit excludes vehicles that use battery components manufactured by Chinese companies, the report says.  “Automakers are…