Treasury issues final EV tax credit rule with new minerals tracing test

The Biden administration has finalized guidance on electric vehicle tax credit rules crafted to lessen dependencies on China, adding a minerals tracing test and easing a rule for graphite as producers adjust their supply chains. A final rule issued by the Treasury Department and the Internal Revenue Service, set to be published in the Federal Register on Monday, addresses critical minerals and battery sourcing requirements added to U.S. electric vehicle tax credits under the Inflation Reduction Act. It comes along...