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How to Get the Federal Clean Vehicle Tax Credit This Year

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The latest Clean Vehicle Tax Credits can be applied to the purchase of a new or used EV at the point of sale as of January 1, 2024. The Clean Vehicle Tax Credit for new EVs is worth up to $7,500 and the Previously Owned Clean Vehicle Tax Credit is worth up to $4,000. Here’s what you need to know.

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How Do the Used and Commercial Clean Vehicle Tax Credits Work?

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Usually when discussing federal electric vehicle tax credits in the United States , most people are referring to the Clean Vehicle Credit (formerly the Qualified Plug-in Electric Drive Motor Vehicle Credit) for new EVs. But that’s not the only federal tax credit for buying an EV.

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Jeep adds new Willys 4xe to PHEV lineup

Green Car Congress

At the 2022 Detroit Auto Show, Jepp introduced the new heritage-inspired 2023 Jeep Wrangler Willys 4xe to Wrangler 4xe electrified lineup. 1 4WD low range ratio, heavy-duty Dana 44 axles and a new entry price point to the 2023 model year Wrangler 4xe lineup, which continues to be the best-selling plug-in hybrid in America.

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Polestar 4, Nautilus hybrid, Model Y cost, fuels for Toyota PHEVs: Today’s Car News

Green Car Reports

Toyota is testing low-carbon fuels for its plug-in hybrids. The IRS posts its shortlist of models qualifying for the $7,500 EV tax credit. And Polestar and Lincoln are among the brands that have saved global reveals for China’s Shanghai auto show. The Tesla Model Y is now challenging ICE models in price.

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Colorado Electric Vehicle Tax Credit Rises to $5,000

EV Life

The bill puts forth several measures aimed at advancing decarbonization in the state, including tax credits for industrial facilities to implement emission-reducing improvements, new spending for geothermal energy projects and geothermal electricity generation, the construction of sustainable aviation fuel production facilities, and more.

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Proposed Federal EV Tax Credit Reform: Will It Move the Sales Needle?

EV Adoption

For electric vehicle observers, the legislation contains two key provisions: The first would extend the tax credit to automakers who already reached the current phaseout level of 200,000 EVs sold with another 400,000 vehicles, but with a reduction to $7,000 from the current maximum $7,500 credit.

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81% of EVs Sold in 2023 Still Qualify for the Federal EV Tax Credit

EV Life

The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV tax credit aimed at helping qualified drivers purchase an electric vehicle. The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. dependence on China.