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Which EVs Still Qualify for Federal Tax Credits?

The Truth About Cars

With the guidance having come in on the United States’ updated EV tax credit scheme, outlined in the so-called Inflation Reduction Act, we now have a pretty good idea of which electric vehicles still qualify. But it basically comes down to whether or not they can qualify for the two $3,750 credits.

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How Do the Electric Vehicle Tax Credits Work?

Blink Charging

Federal tax credits for electric vehicles in the United States are complicated, especially with new changes for 2023. Under the current version of the Section 30D Clean Vehicle Credit (CVC), there are specific criteria that both the vehicle and taxpayer must meet. It does not act as a rebate (until 2024).

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BMW is Willing to Pay to Attract Customers from Other EV Brands

The Truth About Cars

Tesla might not be the most dominant EV maker in the world, but it’s on top of the market here in the United States. Legacy automakers like Ford and General Motors are in the hunt, but so far, no one has been able to topple Tesla’s top spot. Ford Mustang Mach-E and VW ID.4

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Tesla stock pops on Rivian deal, continuing surge toward $1T market cap

Teslarati

Rivian became the third major automaker to adopt Tesla’s NACS connector, following Ford and General Motors, both of which announced partnerships with Tesla earlier this month. Tesla to open 12,000 Superchargers to Ford across U.S. vehicles helped Tesla regain the full $7,500 credit for all three cars.

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Hyundai Metaplant America to boost its EV sales in the US 

Teslarati

Hyundai Motor Group’s Metaplant America (HMGMA ) in Georgia will likely boost its electric vehicle (EV) sales in the United States. Hyundai Motor Group is investing $7.59 The plant is estimated to generate 8,500 jobs directly. billion in HMGMA. Hyundai allegedly rushing construction on $7.6B

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Tesla Is The Most American-Made Car Brand

The Truth About Cars

Ford is the next closest with 77.5 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. percent, and Honda landed at number three with 73.1

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OPINION: Musk’s distaste for Biden incentives would even EV playing field

Teslarati

The idea, while it would eliminate potentially $12,500 from an EV’s price tag (if it’s built in a Union facility in the United States with a U.S.-produced However, other companies, like Ford, General Motors, and others, who are working to transition to EVs, are getting the attention.