Bumpy ride ahead for electric vehicle makers after US passes Climate Bill

Most environmentalists have generally applauded the Inflation Reduction Act, despite concessions made to the fossil fuel industry

The climate and energy package approved by Congress on Friday aims to achieve two goals that are not always compatible: Make electric vehicles more affordable while freezing China out of the supply chain.

Auto industry representatives have been griping that the proposed $7,500 tax credits for electric vehicle buyers come with so many strings attached that few cars will qualify. Buyers can’t have very high incomes, the vehicles can’t cost too much, and the cars and their batteries have to meet made-in-America requirements that many carmakers cannot easily achieve.

“It’s going to be a lot harder for cars to qualify and for