Ford and General Motors are two of the oldest car makers in the U.S. and two of the biggest

rivals in the industry.

The Ford Motor Company and General Motors have been competing with each other for more than

a century.

That's our colleague Andy Durin.

And they have been trying to sell better products than each other, have more competitive

prices than each other for decades and decades and decades.

But right now they're not exactly racing to make a better Mustang or a better Camaro.

What is it that they're fighting over now?

So yeah, they are fighting over precisely four words buried in the United States tax

cut.

And what are those four words?

Four words are foreign entity of concern.

That is the latest arena for this corporate rivalry is how the rules for a tax credit

for electric vehicles should be written by the Biden administration this year.

The foreign entity that the U.S. government is concerned about is China.

And more specifically, Chinese made parts in American made electric cars.

Ford and GM each have different ways they want that rule to be interpreted.

At stake is a $7,500 tax credit that could make EVs more affordable for more Americans.

Welcome to the journal, our show about money, business and power.

I'm Jessica Mendoza, it's Tuesday, October 3rd.

Coming up on the show, how Ford and GM's latest feud could shape the future of EVs in America.

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