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  4. Sun Pacific Holding Corp. (SNPW) Message Board

Benefit So again, what’s the benefit of havin

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Post# of 13696
(Total Views: 147)
Posted On: 01/23/2024 10:51:53 PM
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Posted By: drugmanrx
Re: Wallstreet1234 #5645
Benefit

Quote:
So again, what’s the benefit of having production in the US?




"A tax credit of up to $7,500 is available on new and used EVs that meet certain criteria. The amount of the tax credit depends on where the EVs are made, where their battery components and minerals come from, how much they cost, and the buyer's annual income"

https://www.investors.com/news/ev-tax-credits...-get-7500/

And the self impose dead line approached to go all EV the US tax incentives will be far greater.to meet those objectives,

And then there is this

Report: US considers hiking China EV tariff above 25%
https://fox59.com/automotive/internet-brands/...ve-25/amp/

Interesting read

The $7,500 tax credit for electric cars has some big changes in 2024. What to know



https://www.npr.org/2023/12/28/1219158071/ev-...ford-vw-gm

Quote:
The $7,500 tax credit is actually two separate credits, each worth $3,750. Vehicles can qualify for both, one or neither.

To qualify, in addition to the basic criteria above, the batteries in vehicles matter. That's because the materials that go into those batteries also need to meet sourcing requirements .
The big reason why the U.S. is seeking the toughest-ever rules for vehicle emissions
Climate
The big reason why the U.S. is seeking the toughest-ever rules for vehicle emissions
Ford is losing a lot of money in electric cars — but CEO Jim Farley is charging ahead
Business
Ford is losing a lot of money in electric cars — but CEO Jim Farley is charging ahead

These requirements are designed to encourage the auto industry to rely less on China and more on the U.S. for these components, in the name of supply chain security and U.S. jobs.


Quote:
Finally, you can get a very hefty credit for a business vehicle
If you run a business, you may be interested in the separate commercial tax credit for EVs, which provides up to $7,500 for a light vehicle and up to $40,000 for a larger vehicle, like a delivery truck.



Sure looks like a major US benefit to have your EV battery built my a US company to me.


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