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Good News and Bad News: Changes to the Federal EV Tax Credit in 2024

EV Life

On the one hand, the (up to) $7,500 tax credit is now available right away at the point of sale, eliminating the wait time and allowing drivers to apply their savings directly to the purchase of their vehicle at the dealership—which is great for consumers. Which Electric Vehicles Still Qualify for the Tax Credit?

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How New Eligibility Criteria for the Electric Vehicle Tax Credit Affects You

Blink Charging

Opting for an electric vehicle and leveraging the EV tax credit to help with your next electric vehicle purchase is a smart move. There are various opportunities available to help offset the expenses linked with transitioning to electric vehicle. Why Did the EV Tax Credit Change?

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What happened to the Tesla Cybertruck & Model 3’s IRA tax credit eligibility? 

Teslarati

As the new year rolled in, Tesla updated its website to inform customers about its vehicles’ eligibility under the Inflation Reduction Act’s (IRA) new qualifications. While many Tesla vehicles qualify for the IRA’s tax credits for electric vehicles (EVs), two Model 3 variants and the Cybertruck were left out of the current list.

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Which 2024 EVs qualify for the $7,500 EV tax credit?

Baua Electric

The list of electric vehicles qualified for the EV tax credit in calendar year 2024 has been released. In order to claim the credit on an EV purchase, buyers need to slot under an adjusted gross income limitation of $300,000 for married couples filing jointly, $225,000 for head of household, or $150,000 for other filers.

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Automakers handed a win with updated EV tax credit guidance in the U.S.

Teslarati

The White House issued new guidance on federal electric vehicle (EV) tax credits this week, including a key exemption that’s considered a win for many automakers, as it offers extra time for companies attempting to set up battery production operations in the U.S. These countries include North Korea, China, Russia and Iran.