On August 16, President Biden signed the Inflation Reduction Act (IRA) of 2022 into law. The law will, among many things, allocate nearly $370 billion to climate and energy-focused investments and incentives. The IRA resulted from a hard-fought effort that created a complex regulation. One of the many things the IRA does is amends the existing Qualified Plug-in Electric Drive Motor Vehicle Credit program by creating the Clean Vehicle Credit provision, a key element of the IRA and one that is likely to have a significant impact on the clean vehicle market. The CVC maintains the $7,500 tax credit for consumers who purchase a new clean vehicle, i.e., battery electric vehicles (BEV), plug-in electric vehicles (PHEV), and fuel cell electric vehicles (FCEV) while eliminating the current 200,000 vehicle cap per automaker.