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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. First, the easy part: How do I claim the $7,500 EV tax credit?

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Eos Energy launches $500M Project AMAZE with $398.6M conditional loan guarantee from DOE; long-term zinc-based storage

Green Car Congress

Eos Z3 battery module Z3 battery modules store electrical energy through zinc deposition. The streamlined Eos Z3 battery module design features an aqueous electrolyte, bipolar electrodes, and a polymer casing. The project secured an up to $398.6-million

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New tool shows which used EVs qualify for federal tax incentives

Teslarati

A new tool released by Recurrent Auto shows car buyers which used EVs qualify for federal tax incentives based on a simple VIN search. And to help those who want to purchase a used EV, the Federal government has introduced a tax incentive of $4,000. The vehicle must have a battery with a capacity above 7kWh.

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China is Unhappy with the Inflation Reduction Act and Has Complained to the WTO

The Truth About Cars

Among many other things, the Inflation Reduction Act changed the way EV tax credits work in the United States. With an eye on reducing America’s dependence on Chinese batteries and materials, the Act incentivizes automakers to source materials from free-trade-compliant countries and build EVs in North America.

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After chiding Ford for US CATL battery plan, GM may be seeking its own

Baua Electric

battery-supply deal with China’s CATL, Car News China reports. The deal reportedly being discussed would bring that partnership to North America in the form of a joint battery plant located in either the U.S. or Mexico, along with a GM license agreement for CATL’s LFP battery tech. car manufacturing.”

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Fisker finesses the Inflation Reduction Act tax credit changes with binding sales contract; “Transition Rule”

Green Car Congress

The US Senate has passed the Inflation Reduction Act, with nearly $400 billion in funding over 10 years for climate- and energy-related programs; among the myriad provisions in the 755-page bill are changes to the electric vehicle Federal tax credit of $7,500. The credit will be available at the point of sale.

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Ford Scales Back Michigan Battery Plant Investments

The Truth About Cars

Ford has said it will restart construction on the electric vehicle battery facility it’s building in Marshall, Michigan, after pausing work when the UAW strike kicked off a couple months ago. As stated previously, we have been evaluating BlueOval Battery Park Michigan in Marshall.