article thumbnail

President Biden signs Inflation Reduction Act, cut EV tax incentives

Teslarati

President Biden is expected to the Inflation Reduction Act that radically changes electric vehicle incentives at the federal level in the US. Most cuts come from the bill’s requirement of US assembly and price limits for qualifying vehicles. Top-of-the-line Ford F-150 Lightnings will also no longer be eligible.

Tax 79
article thumbnail

The Best Electric SUVs on the Market

EV Life

The electric vehicle market has expanded rapidly in the last few years as automakers have introduced a variety of EV models to keep up with demand. These days, all-electric options are available in every type of vehicle, from high-horsepower electric sports cars to stylish electric luxury sedans to torque-heavy electric trucks.

SUV 52
article thumbnail

81% of EVs Sold in 2023 Still Qualify for the Federal EV Tax Credit

EV Life

The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV tax credit aimed at helping qualified drivers purchase an electric vehicle. The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. Want to find out how much you can save?