> One half is based on the EV battery having at least 40 percent of its critical minerals sourced in the US or one of its free trade partners; the other half is based on the EV battery having at least 50 percent of its components manufactured or assembled in North America. Those percentages are meant to scale up in the coming years as well. This is because the IRA seeks to make certain that batteries are sourced and built in North America, not just the cars themselves.

That feels like it might take a while to meet.

Or they would have to drop the price even more because the buyers cannot use the credit as a discount.

No, the price cuts were international.