EV Industry Welcomes Final Rule on Advanced Manufacturing Production Tax Credit; 45X will Encourage Investment and Manufacturing in the United States

The Zero Emission Transportation Association’s Executive Director, Albert Gore, issued the following statement in response to today’s final rule implementing the Advanced Manufacturing Production Tax Credit (45X) by the Treasury Department:

“Today’s announcement marks a critical step forward as we look to bolster American economic and supply chain security, while supporting our nation’s manufacturing competitiveness. For America’s electric vehicle industry, this new rule supports robust and reliable supply chains right here at home, from the production of critical minerals and materials, to advancing innovative battery technologies, to building advanced components. The final rule will ensure that these technologies are developed and deployed by American workers in American factories. 

“ZETA appreciates the certainty offered by this final rule, and that the administration was responsive to input from the private sector. The 45X credit is a powerful tool to support American manufacturing competitiveness, and is designed to create jobs and spur economic growth around the country. We look forward to continued partnerships with the public and private sectors to support this program as it lowers costs for producers and consumers, creates hundreds of thousands of new jobs, and supports domestic output in the critical sectors that will continue to play an increasingly important role in our nation’s future.”

Zero Emission Transportation Association | https://www.zeta.org/