Tesla has indicated on its website that the $7,500 federal Tax Credits for its Model 3 and Model Y electric vehicles are likely to be reduced after December 31. The tax credits, along with price cuts, have contributed to Tesla's record delivery numbers. The reduction in tax credits could affect the company's margins, and it is speculated that stricter battery rules set to be enforced in 2023 may be the reason for the expected loss. The requirements include a certain percentage of battery assembly or manufacturing in North America and critical minerals extraction or processing in the US.

The post Tesla says Model 3, Model Y tax credits likely to be reduced by 2024 appeared first on Balanced News Summary.