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Boom to bust: Major EVs, including Tesla, lose US tax incentives

In a setback to the transition to greener forms of mobility, more electric vehicles (EVs) in the US are set to become more expensive this year. The change is due to many car models losing tax credits of up to $7,500 after the new battery sourcing norms came into effect on January 1. 

The list of vehicles that will see a price hike include Tesla’s Cybertruck, Nissan Leaf, some variants of Tesla Model 3, and Chevrolet Blazer EV, according to an update by the US Treasury. 

In December, the Treasury released guidelines outlining fresh battery sourcing requirements to reduce dependence on China within the US electric vehicle supply chain. 

This article was originally published by a interestingengineering.com . Read the Original article here. .

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