Treasury’s EV tax credit guidance delayed until March

WASHINGTON — The U.S. Treasury Department on Monday said it will issue proposed guidance for the critical mineral and battery component requirements in March, effectively delaying those eligibility restrictions in the $7,500 tax credit for new electric vehicles.

Under the recently signed Inflation Reduction Act, the department was required to issue proposed guidance by Dec. 31 that will further define how to meet the revamped EV tax credit’s eligibility rules, which are…