The U.S. Treasury Department has proposed rules that would decrease the number of electric vehicles (EVs) qualifying for the full $7,500 federal tax credit later this year, potentially delaying President Jo Biden’s goal of having half of new passenger vehicles in the U.S. running on electricity by 2030. The new rules, which come into effect in April, aim to reduce U.S. reliance on China and other countries for electric vehicle battery supply chains. While EV prices average over $58,000 in the U.S., the tax credits are designed to bring costs down and attract more buyers, but reducing the credit to $3,750 may not be enough to encourage sales.