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Why Tesla Model Y tax credit inclusion is good for some and bad for others

Teslarati

The Tesla Model Y complete lineup was recently added to the IRS list of qualifying vehicles that will give buyers a $7,500 tax credit. While it may seem like the company’s huge price cuts coupled with the tax credit would be good for everyone, it spells bad news for competitors that offer comparable EVs in the same category.

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Tesla Is The Most American-Made Car Brand

The Truth About Cars

.& Not surprisingly, Ferrari, McLaren, and Tata – makers of Jaguar and Land Rover vehicles – don’t produce any domestically. Volvo only produces 4 percent of its vehicles here, but the real shocker is that General Motors only built 54 percent of its vehicles in the United States.

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Proposed Changes to the Federal EV Tax Credit Passed by the House of Representatives

EV Adoption

For electric vehicles, the BBBA includes multiple proposed changes to IRC 30D, more commonly knows as the federal EV tax credit. Perhaps the mostly likely is the requirement for EVs to be assembled in the US in a union factory to qualify for an additional $4,500 tax credit. Tax Credit Becomes Refundable.

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Electric Car Manufacturers Inspire New Paradigms -- Seeking Alpha

Tony Karrer Delicious EVdriven

Think Global was formerly known as Think City, a prior Ford Motor Company ( F ) acquisition and part of a now-defunct Think division at Ford. The Think City was short-lived in the States with production halting in 2002 after just 1005 cars had been assembled. Tax credit incentives are also available to consumers in the U.S.