According to Bloomberg, Ford is proceeding with the project despite uncertainties over how the Treasury Department would interpret President Biden’s historic climate change measure. The Inflation Reduction Act, in particular, has wording that aims to ban manufacturers from claiming consumer EV tax credits if their vehicles use batteries manufactured by a “foreign company of concern.” The guidelines were devised by Congress to encourage automakers to create a local supply chain for EV parts rather than depending on China for crucial components.
