As everyone greets the new year, Tesla updated its website according to the Inflation Reduction Act’s (IRA) requirements for the electric vehicle (EV) tax credits.
Most of Tesla’s other models—including the Model X—are eligible for the full tax incentives. The base Model 3 and Long Range variant no longer qualify for the IRA tax credits. The Tesla cars eligible for IRA’s $7,500 tax credit are listed below with their prices.
- Model X Dual Motor AWD – $79,990
- Model 3 Performance – $50,990
- Model Y RWD – $43,990
- Model Y LR – $48,990
- Model Y Performance – $52,490
According to the IRS, customers who wish to avail the $7,500 discount must have the following qualifications:
- Buy an EV for personal use and not for resale
- The new EV must primarily be used in the United States
- The customers’ modified adjusted gross income (AGI) must not exceed:
- $300,000 for married couples filing jointly
- $225,000 for heads of households
- $150,000 for all other filers
Tesla informed customers about changes to the IRA tax credit list of eligible EVs early last year. The IRS implemented some changes that affected some electric vehicle models on sale in the US market.
The most significant changes to the IRA related to EV components sourced from foreign entities of concern (FEOC), which included countries like China, Iran, North Korea, and Russia. Electric vehicles with components from FEOC nations are not eligible for IRA EV tax credits.
The Teslarati team would appreciate hearing from you. If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101.
