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Tesla expects to meet Inflation Reduction Act requirements for tax credits

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A Tesla electric vehicle at a supercharger station in Hawthorne, California, on Aug. 9, 2022.

Patrick T. Fallon | AFP | Getty Images

Tesla CEO Elon Musk said during the company’s third-quarter earnings call on Wednesday evening that the company expects to fully meet the Inflation Reduction Act requirements that would allow consumers to receive tax credits on new EV purchases.

President Joe Biden signed the bill in August after it was passed by both chambers of Congress. It includes climate-related incentives, like an up to $7,500 tax credit for consumers who purchase an electric vehicle. To be eligible for the credit, the car’s battery must meet a minimum threshold of parts sourced from the…



Source cnbc.com

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