TechCrunch Summary (2023-06-02 04PM)

Source: Tesla says all new Model 3s now qualify for full $7,500 tax credit

Summary
Tesla’s Model 3 long-range all-wheel drive and rear-wheel drive will now qualify for the full $7,500 federal EV tax credit. The eligibility change is not yet reflected on the Treasury Department’s website.

Fact

🚘 Tesla’s Model 3 long-range all-wheel drive and rear-wheel drive will qualify for the full $7,500 federal EV tax credit.

🏭 50% of the value of battery components must be produced or assembled in North America for half or $3,750 of the credit, and the other half requires 40% of the value of critical materials to be sourced from the US or another free-trade agreement country.

🌍 The EV tax credits were mandated by Congress to end U.S. reliance on China batteries.

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