Image: Hugo Herrera / The Verge The Biden administration is giving automakers a little leeway around some of the strict rules regarding eligibility for the government’s $7‚500 tax credit. The final guidance‚ which was released today‚ gives car companies a two-year exemption from provisions in the Inflation Reduction Act (IRA) intended to disqualify EVs with battery minerals from countries like China‚ Russia‚ Iran‚ and North Korea — so-called “foreign entities of concern” (FEOC). The exemption only applies to “impracticable-to-trace” battery minerals‚ like graphite‚ which frequently comes from China. Those materials are exempt from the rules until 2027‚ the Treasury Department said today. The exemption only applies to “impracticable-to-trace” battery minerals Other... Continue reading…