{"id":30726,"date":"2022-09-03T09:03:38","date_gmt":"2022-09-03T13:03:38","guid":{"rendered":"https:\/\/autosector.com\/?p=30726"},"modified":"2022-09-03T09:03:38","modified_gmt":"2022-09-03T13:03:38","slug":"nissan-ev-credits-us-inflation-reduction-act","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=30726","title":{"rendered":"Nissan still analyzing new U.S. law on EV credits, executive says | Autoblog"},"content":{"rendered":"

TOKYO \u2014 Japan’s Nissan Motor Co<\/a> is still analyzing a new U.S. law that restricts tax credits for electric vehicles<\/a> to those assembled in North America, a company executive said on Friday.<\/p>\n

“We believe that we need to further accelerate our efforts in electrification and localization, but we would like to take various measures based on a better understanding of the details,” said Joji Tagawa, chief sustainability officer.<\/p>\n

Credits ended with the new law for about 70% of the 72 models that were previously eligible, according to the Alliance for Automotive Innovation, an industry trade group.<\/p>\n

The Biden administration said in mid-August that about 20 models still qualify for tax credits of up to $7,500, which includes Nissan’s battery electric vehicle Leaf.<\/p>\n

The auto industry group, however, said new restrictions on battery<\/a> and mineral sourcing and price and income caps that take effect on Jan. 1 will make all or nearly all EVs ineligible.<\/p>\n

Tagawa said Nissan<\/a> needs to understand “intricate” details of the law including on procuring parts and rare metals for batteries as well as on vehicle assembly.<\/p>\n

The Japan<\/a> Automobile Manufacturers Association, a major Japanese auto lobby, said last month it was concerned about the law and would keep a close watch on developments.<\/p>\n

(Reporting by Satoshi Sugiyama; Editing by Tom Hogue & Shri Navaratnam)<\/em><\/p>\n

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