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

EV Life

On the one hand, the (up to) $7,500 tax credit is now available right away at the point of sale, eliminating the wait time and allowing drivers to apply their savings directly to the purchase of their vehicle at the dealership—which is great for consumers. In fact, it’s what EV Life has been doing for our customers for years.

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Which 2024 EVs qualify for the $7,500 EV tax credit?

Baua Electric

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.