US Electric Vehicle Tax Credit Boosts Competitiveness of Moroccan Lithium

According to the U.S. Treasury Department, more than a dozen new models and some of their variants can benefit from the full or half of the new credit, reports CNN. A small number of models - mostly foreign-made vehicles - are no longer, for now, eligible. Until now, only vehicles from the "Big Three" U.S. electric vehicle manufacturers - Ford, General Motors and Stellantis - as well as Tesla have been eligible for the new credit.

According to senior Biden administration officials, the new rule would make lithium from countries that have concluded free trade agreements on critical minerals with the United States more competitive. These countries are: Australia, Bahrain, Canada, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Korea, Mexico, Morocco, Nicaragua, Oman, Panama, Peru, Singapore and Japan.