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Why Polestar Automotive (PSNY) Stock Is Rising

Benzinga Real-time News ·  02/04 00:51

Polestar Automotive Holding Uk Plc (NASDAQ:PSNY) shares are trading higher by 2.87% to $6.45 Friday morning amid strength in EV stocks after the Treasury Department announced it is raising the price cap for EV tax credits to $80,000. What Happened With EV Tax Credits? The U.S. Treasury Department updated the vehicle classification standard used to determine the applicable Manufacturer Suggested Retail Price (MSRP) limitation for clean vehicle tax credits available under the Inflation Reduction Act. On December 29, 2022, the Treasury says it published a notice of intent to propose regulations containing information for consumers and manufacturers in advance of the January 1, 2023,

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