WASHINGTON : U.S. Senator Marco Rubio on Thursday introduced legislation that would block tax credits for electric vehicle batteries produced using Chinese technology.The proposal would bar credits to Ford Motor's deal to use technology from Chinese battery company CATL as part of the automaker's plan to
WASHINGTON : U.S. Senator Marco Rubio on Thursday introduced legislation that would block tax credits for electric vehicle batteries produced using Chinese technology.
The proposal would bar credits to Ford Motor's deal to use technology from Chinese battery company CATL as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan. Rubio, the top Republican on the Intelligence Committee, said the bill would"significantly restrict the eligibility of IRA tax credits and prevent Chinese companies from benefiting."
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