GM believes many of its EVs will qualify for tax credits in 2024

FILE PHOTO: General Motors assembly workers connect a battery pack underneath a partially assembled 2018 Chevrolet Bolt EV vehicle on the assembly line at Orion Assembly in Lake Orion, Michigan, U.S., March 19, 2018. REUTERS/Rebecca Cook/File Photo/File Photo

WASHINGTON (Reuters) - General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect.

"Due to GM’s historic investments in the U.S and efforts to build more secure and resilient supply chains we believe GM is well positioned to maintain the consumer purchase incentive for many of our EVs in 2024 and beyond," the automaker said after the Biden administration issued new guidance.