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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Automakers, South Korea urge U.S. to tap commercial EV tax creditMany automakers and the South Korean government are urging the Biden administration to tap a commercial electric vehicle tax credit to boost consumer EV access, a plan that could help ease concerns over a climate bill approved in Congress.
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North Korea fires artillery near border in warning to South KoreaIt was the first time North Korea has fired weapons into the maritime buffer zones since early November.
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North Korea fires more artillery shells into sea in response to South Korea drills -KCNANorth Korea said on Tuesday it had ordered military units to fire more artillery shells into the sea, the North's official KCNA news agency reported, in response to South Korea's ongoing drills across the border.
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North Korea fires more artillery shells into sea in response to South Korea drillsThe firing comes a day after Pyongyang said it fired more than 130 shells into the sea off its east and west coasts, some of which landed in a buffer zone near the sea border between the two Koreas.
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N. Korea fires artillery near border in warning to S. KoreaNorth Korea has fired about 130 artillery rounds into the water near its western and eastern sea borders with South Korea, the latest military action contributing to worsening relations between the neighbors.
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