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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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News: 2023 Genesis Electrified GV70 AWD

Clean Fleet Report

The gasoline-powered GV70 is the best-selling Genesis model, so the addition of an all-electric version of this popular SUV will find a place in many garages as GV70 owners make the transition to electric propulsion. This includes producing the batteries for its full electric line-up that begins in 2030.

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What Does GM’s “30 New EVs By 2025” Promise Mean for the US Market?

EV Adoption

On January 28 GM announced that it plans (aspires) to exclusively offer electric vehicles by 2035, ending production of its cars, trucks and SUVs with diesel- and gasoline-powered engines. ” They have suggested, however, that around “two-thirds” of the the 30 vehicles would be available in the North America.

GM 116
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2017 Chrysler Pacifica Hybrid PHEV minivan EPA-rated at 84 MPGe in electric-only mode; role of eFlite dual-motor/one-way clutch strategy

Green Car Congress

As examples of SUV/MPV-style electric vehicle fuel efficiency, the 2016 Tesla Model X AWD - 75D is EPA-rated at 93 MPGe combined city/highway; the Model X AWD - P90D is EPA-rated at 89 MPGe; and the 2016 BYD e6 compact MPV is EPA-rated at 72 MPGe. No other minivan has ever come close to this rating. (As Click to enlarge.

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Are Rising EV Inventories Proof Nobody Wants Them?

The Truth About Cars

However, government incentives (EV tax credits) have made them more attractive in the general sense. But it’s no more expensive than the average automobile sold today after tax credits are accounted for, wears a desirable badge, and stresses the fundamentals of what makes EVs desirable in the first place.