New bill could be a game changer for buying electric cars

The federal EV tax credit, now known as the Clean Vehicle Credit, has undergone some changes recently — the most notable of which requires final assembly in North America. Not many electric cars are built here, which caused a significant drop in the number of electric cars eligible for the EV tax credit overnight.

Businesses love nothing more than to undercut the competition, and a number of automakers have since announced plans (opens in new tab) to bring EV production to the United States — including VW, Hyundai and Honda. But that takes time, and a new bill (opens in new tab) is trying to make those cars eligible for the full $7,500 tax credit once more.

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