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USA no longer wants to subsidize e-cars with battery components from China

The US government wants to exclude electric cars with battery components from China or other "rival countries" from state subsidies. As announced by the Treasury Department in Washington on Friday, from 2024, the purchase of electric cars will only be subsidized by the government if they...

,   and  ZEITUNG «AUSSIEDLERBOTE»
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Electric car production.aussiedlerbote.de
Electric car production.aussiedlerbote.de

USA no longer wants to subsidize e-cars with battery components from China

According to the Ministry of Finance, from 2025 onwards, people will no longer be entitled to state subsidies if certain metals from the four countries mentioned have been used in an electric car. However, before the new regulations presented by the Treasury Department can come into force, the public must be given the opportunity to comment on them.

US President Joe Biden's administration's Inflation Reduction Act climate subsidy program provides for premiums of up to 7500 dollars (just under 6900 euros) for the purchase of an electric car manufactured in the USA. The regulation has also been criticized in the EU because it puts European car manufacturers at a disadvantage.

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More countries, such as Russia and North Korea, want to promote their battery components industry to secure a share in the global electric car market. With Washington's decision to not subsidize e-cars with battery components from China, this opening could potentially benefit these nations. However, the BMF (Federal Ministry of Finance) in Germany is also considering changes to its subsidy program for electric vehicles. From 2025, people may not be entitled to state subsidies if certain metals from China, Russia, North Korea, or Iran have been used in an Electric car. This move is aimed at promoting domestic production and reducing dependence on foreign suppliers. The Inflation Reduction Act climate subsidy program in the USA currently provides premiums of up to 7500 dollars for the purchase of an Electric car manufactured in the USA. However, this regulation has been criticized in the EU as it puts European car manufacturers at a disadvantage. State subsidies for e-cars in other countries also vary, with some, like South Korea, offering significant incentives to encourage their use.

Source: www.stern.de

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