News & Analysis as of

U.S. Treasury Motor Vehicles Electric Vehicles

Katten Muchin Rosenman LLP

Updates on EV Tax Credits

Over the past several months the US Treasury Department (Treasury) and the Internal Revenue Service (IRS) have been busy issuing regulations and administrative guidance with respect to Section 30D (New Clean Vehicle Tax...more

Latham & Watkins LLP

Federal Agencies Provide Guidance on Clean Vehicle Tax Credit Eligibility

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Proposed regulations clarify FEOC restrictions and clean vehicle tax credit compliance for manufacturers aiming to produce eligible EVs. As countries around the world accelerate the transition to clean energy, the race to...more

Eversheds Sutherland (US) LLP

DOE, Treasury and IRS issue guidance regarding foreign entity of concern for section 30D tax credit eligibility

On December 4, 2023, the Department of Energy (DOE), Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) published related proposed guidance on the eligibility of an electric vehicle for the section...more

Foley & Lardner LLP

Foley Automotive Update - January 2024

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This update helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities. Key Developments - Full-year 2023 U.S. new light-vehicle sales reached approximately 15.5...more

Jones Day

Proposed Guidance Clarifies "Foreign Entity of Concern" Restrictions for Clean Vehicle Credit

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New proposed Treasury and Department of Energy ("DOE") guidance, issued on December 1, 2023, offers clarity on which vehicles will be disqualified from the Clean Vehicle Tax Credit due to the inclusion of minerals or...more

Miller Canfield

US Issues Proposed Regulations on FEOC Exclusions from Clean Vehicle Credit

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On December 4, 2023, the U.S. Department of the Treasury and Internal Revenue Service (IRS) published long-awaited proposed regulations (Notice of Proposed Rulemaking) regarding the Foreign Entity of Concern (FEOC) exclusions...more

Foley & Lardner LLP

Foley Automotive Update - December 2023 - 2

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Key Developments - Full-year 2023 U.S. new light-vehicle sales are expected to reach 15.5 million units, and increase to 15.9 million units in 2024, according to projections from S&P Global Mobility. Global light-vehicle...more

Troutman Pepper

Guidance Suggests U.S. Clean Vehicle Subsidies Require Disengagement From China Supply Chains

Troutman Pepper on

On December 1, the U.S. Department of Energy (DOE) released long-awaited proposed guidance defining “foreign entity of concern” (FEOC) under the Infrastructure Investment and Jobs Act (IIJA). Simultaneously, the U.S....more

Mayer Brown

US Treasury Issues Proposed Regulations on Section 30D Clean Vehicle Credit

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Electric vehicle and electric battery manufacturers and critical mineral producers will want to take note of a notice of proposed rulemaking (NPRM) on Section 30D of the Internal Revenue Code of 1986, as amended, released by...more

Mayer Brown

IRS Guidance on Electric Vehicles

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IRS and Treasury today issued Revenue Procedure 2022-42, which includes procedures for manufacturers of electric vehicles...more

Foley & Lardner LLP

Top Legal Issues Facing the Automotive Industry in 2022

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In 2022, automotive suppliers face many of the same issues that have bedeviled the industry throughout 2021, as well as a host of all-new challenges. Unfortunately, as with many aspects of pre-pandemic life, the relative...more

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