On May 6, 2024, the Treasury Department and the IRS published the final regulations that determine qualification for the U.S. clean vehicle (Section 30D) tax credit, including with respect to the critical minerals and battery component requirements. The final regulations adopt most of the proposed regulations issued in April 2023 with clarifying changes and additional modifications. The attached memo summarizes the key takeaways from the final rules, which take effect July 5, 2024.
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