BMW, Rivian, Hyundai, Volvo lose access to EV tax credit

The United States Treasury updated its list of electric vehicles eligible for a $7,500 EV tax credit per its new rules for battery sourcing, and BMW, Nissan, Rivian, Hyundai, Volvo and Volkswagen are no longer on it.
The new requirements will go into effect Tuesday, and they’ll also cut credits for the Tesla Model 3 to $3,750. Other Tesla models will still be eligible for the full $7,500 credit. All General Motors EVs, including the Chevrolet Bolt and Bolt EUV, will also qualify for the full credit.
The EV tax credits were mandated by Congress last August as part of the Inflation Reducti

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