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Electric vehicle makers are fighting for it when they need it most.
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Growing EV use could make electric vehicle prices higher or unequal among automakers, what will affect the future of EV tax credits
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To make electric vehicles more popular, the government helps companies make vehicles more affordable.
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Because of which it makes more companies agree to take the financial risk of investing in electric cars.
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In the US, regulations under the Inflation Reduction Act require production of plug-in electric vehicles to qualify for tax incentives in North America.
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One of the problems with changing regulations with immediate effect at the government level is that automakers need time to transition their EVs.
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The IRA is trying to reduce America's dependence on China for battery materials and parts.
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EV tax credits are currently being applied, so you, the consumer, can save up to $7,500 on your EV purchase.
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That's enough of a change that most people might consider an EV if it's reasonably priced.
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Next steps