Remove America Remove Dealers Remove Electric Cars Remove Tax Credit
article thumbnail

What EV Drivers Should Know About Leasing an EV This Year

Blink Charging

Although the $7,500 consumer tax credit for buying an electric car is becoming more restrictive for new vehicles adhering to specific manufacturing requirements , there’s a provision enabling consumers to still enjoy the credit when leasing an EV assembled outside of North America.

article thumbnail

Lease Buyout Offers Loophole to EV Incentive Restrictions

EV Life

As we enter the age of the electric car, federal and state governments have created a variety of programs , rebates, and grants to incentivize drivers to make the switch to zero-emission vehicles. Two sections of the law, 30D and 45W, detail individual tax credits and commercial tax credits, respectively.

article thumbnail

Hyundai fast-tracks start of EV production in the US as it gains recognition with its own day

Baua Electric

Hyundai announced its fast-tracking production at its Hyundai Motor Group Metaplant America (HMGMA) in Georgia. The automaker now expects to begin building electric cars in the US in the fourth quarter of 2024, with the grand opening in the first quarter of next year. Hyundai is investing $7.59

Hyundai 52
article thumbnail

Hyundai sold nearly 269,000 electric vehicles last year as IONIQ 5 and 6 spark growth

Baua Electric

The company saw solid sales growth across key markets, including North America, Europe, and India. Hyundai expects to sell around 300,000 electric cars in 2024, or about 12% growth from last year. Hyundai accelerated construction to take advantage of government incentives like the $7,500 tax credit.

Hyundai 52
article thumbnail

Here’s every electric vehicle that currently qualifies for the US federal tax credit in 2024

Baua Electric

As sales of electric vehicles continue to grow in 2024, many new and prospective customers have questions about qualifying for a federal tax credit on electric vehicles. Luckily, we have compiled everything you need to know about tax credits for your new or current electric vehicle into one place.

article thumbnail

News: 2023 Genesis Electrified GV70 AWD

Clean Fleet Report

Built in America Genesis cannot stress enough the importance and milestone it is for their brand to now be building a car in America that will be sold in America. The philosophy of quality and expectations need to be met, as Genesis is an unknown entity to much of the car buying public.

Hyundai 89
article thumbnail

EV Tax Credit: The Guide Your Car Dealer Doesn’t Want You To Read

EV Life

Federal EV Tax Credit To accelerate the adoption of electric vehicles (EVs) and plug-in hybrids (PHEVs), the US Government offers a federal EV tax credit of up to $7500 to anyone purchasing or leasing an electric car. However, there additional restrictions were added along with new tax credit funding.