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Senator asks Treasury to bar Chinese battery firms, minerals from US EV tax credits

News Snapshot:

Democratic Senator Joe Manchin urged the U.S. Treasury on Monday to adopt the "strictest possible standards" to prevent Chinese-produced minerals or Chinese battery companies from winning electric vehicle tax credits. Manchin, who chairs the Senate Energy Committee, raised concerns in a letter to Treasury Secretary Janet Yellen about reports Chinese battery companies are actively pursuing business opportunities to take advantage of the credits, adding U.S. tax credits "cannot be allowed to be hijacked by adversaries engaging in mineral laundering." In 2022, Congress passed the Inflation Reduction Act barring $7,500 in future consumer EV tax credits if any battery components are…

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