US New Clean Vehicle Credit
US New Clean Vehicle Credit aims to encourage sustainable, ethical sourcing of EV batteries. Here's what sellers & buyers need to know for compliance.
What you need to know about the US New Clean Vehicle Credit
In an effort to ensure that EV batteries were not extracted, processed, recycled, manufactured, or assembled by a foreign entity of concern​, the US government is issuing credits on eligible cars purchased between 2024 and 2032. As a result, many car manufacturers & sellers are leveling up their supply chain traceability to support & comply with the new initiative.
How BanQu helps you with the US New CleanVehicle Credit
SUPPLY CHAIN MAPPING & TRACKING
Map & track every step of the supply chain, including the foreign entities involved to provide evidence that batteries are eligible for the tax credit.
360° INSIGHTS & REPORTING
Few companies are just concerned with US New Clean Vehicle Credits compliance. BanQu can capture the data you need to optimize your supply chain and keep up with regulations - even as they shift.
SEAMLESS, SECURE INTEGRATIONS
As data security & regulations also rise, rest easy that all your data is completely GDPR & SSAE-18 compliant. BanQu’s blockchain-based, open API can also integrate with any existing systems for seamless workflows.
Frequently Asked Questions
BanQu helps companies comply with the US New Clean Vehicle Credit requirements by providing detailed supply chain mapping and tracking. This ensures that all steps in the supply chain, including foreign entities, are monitored to confirm that EV batteries meet eligibility criteria for the tax credit.
Supply chain traceability is crucial for verifying that EV batteries are not sourced from foreign entities of concern. BanQu supports this by offering comprehensive supply chain tracking, providing the necessary evidence to demonstrate compliance with the US New Clean Vehicle Credit.
BanQu's 360° insights and reporting provide a detailed overview of your supply chain, tying procurement data to environmental and social metrics. This helps your company not only comply with the US New Clean Vehicle Credit but also optimize supply chain operations and stay ahead of regulatory changes.
Integrating BanQu's blockchain-based platform ensures that all data related to supply chain activities are secure, transparent, and compliant with GDPR and SSAE-18 standards. This seamless integration with existing systems helps streamline workflows and maintain compliance with the US New Clean Vehicle Credit requirements.
BanQu supports platform implementation with a dedicated team that ensures a smooth setup and integration with your existing systems. Additionally, BanQu provides ongoing customer support to address any issues, offer training, and ensure that your company continues to meet compliance requirements for the US New Clean Vehicle Credit.