article thumbnail

Report: Feds to formalize foreign entity rules for EV tax credit

Baua Electric

Treasury Department could issue clarifications on federal EV tax-credit eligibility rules as early as Friday, reports Transport Topics. does not have friendly trade relations with would not qualify for a $7,500 federal tax credit. But these could still limit the number of vehicles that qualify for the federal tax credit.

article thumbnail

US updates EV tax credit rules, enabling more electric cars to be eligible

Baua Electric

Department of the Treasury and Internal Revenue Service (IRS) updated the EV tax credit rules today with new requirements that should enable more electric cars to become eligible. Currently, only 22 out of the 104 electric vehicles for sale in the US are eligible to the tax credit. Today, the U.S.

article thumbnail

This Volkswagen EV Now Comes with Full Tax Credit Benefits

The Truth About Cars

Photo credit: Volkswagen Volkswagen has recently announced that their MY23 and the upcoming MY24 models of the ID.4, 4, equipped with SK On battery components, will be eligible for the full $7,500 Federal Tax Credit. that qualifies for the full Federal Tax credit. This development makes these models of the ID.4,

article thumbnail

Tesla price cut: Model Y undercuts Model 3 by $5,000 with tax credit

Baua Electric

Both are eligible for the $7,500 EV tax credit, cutting the effective price for many households to just $37,130 and $42,130 respectively. The Model 3 also doesn’t qualify for the EV tax credit. In addition, the base Model Y RWD now undercuts the base Model 3 by $5,000 for the tax-credit-eligible.

article thumbnail

Proposed Changes to Federal EV Tax Credit – Part 4: Chinese-Assembled Vehicles Will Not Be Eligible for Tax Credit

EV Adoption

One of the proposed changes to the federal EV tax credit that has flown a bit under the radar is also one of the most political and protectionist in nature. Effective January 1, 2022, electric vehicles with final assembly* (see definition at the end) in China would no longer qualify for IRC 30D (federal EV tax credit).

article thumbnail

$79,050 2023 Mercedes-Benz EQE SUV makes EV tax credit cut

Green Car Reports

Mercedes-Benz will soon have three fully electric SUVs for sale in the U.S., including the smaller EQB and larger EQS SUV models already on sale. On Wednesday, it released prices for the middle model, the 2023 Mercedes EQE SUV. The EQE SUV has all the makings of a made-in-America EV.

article thumbnail

2023 Mercedes-Benz EQE SUV starts at $79,050, makes EV tax credit cut

Green Car Reports

Mercedes-Benz will soon have three fully electric SUVs for sale in the U.S., including the smaller EQB and larger EQS SUV models already on sale. On Wednesday, it released prices for the middle model, the 2023 Mercedes EQE SUV. The EQE SUV has all the makings of a made-in-America EV.