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Good News and Bad News: Changes to the Federal EV Tax Credit in 2024

EV Life

JANUARY 4, 2024

In addition, battery sourcing requirements can also affect a vehicle’s eligibility. 3,750 of the credit applies to the raw materials inside batteries, requiring a certain percentage of critical minerals to be mined or processed in the U.S. For example, starting in 2024, battery components cannot come from companies controlled by China.

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Tax Credit Tax Personal F-150 52
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Which 2024 EVs qualify for the $7,500 EV tax credit?

Baua Electric

JANUARY 2, 2024

2024 Chevrolet Blazer EV RS Tougher rules on EV battery origin = fewer qualified In most of these examples, that’s because the tax credit, as revamped under the Inflation Recovery Act of 2022, phases in tougher rules for the origin of battery components and critical minerals. The credit amount on these models has fallen to $3,750.

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Tax Credit Tax Chevrolet Jeep 52
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