Biden’s latest China crackdown puts his EV ambitions at risk

News Snapshot:

It comes months after an earlier Treasury rule on domestic manufacturing locked out many vehicles from European, Japanese and South Korean automakers from receiving the tax credit. Around 22 electric and plug-in hybrid models currently qualify for the credit, less than one-fifth of the more than 100 models on the market. It’s not clear how many of those cars will remain eligible when the new rules take effect come January. The stringent rules are a victory for China hawks seeking to cut U.S. reliance on the country, while automakers like Ford — which is planning to license Chinese battery technology...