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

EV Life

When you finance your purchase through EV Life, we’ll help you determine your eligibility, not just for the federal EV tax credit, but also any of the numerous state and local incentives, rebates, and grants designed to help drivers save money on the purchase of an electric vehicle. or a trade partner. One low payment.

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

Baua Electric

1, any vehicles with key battery components sourced from a “foreign entity of concern”—China, Russia, Iran, or North Korea— will be disqualified in 2024 , as will corporate subsidies if a “parent entity” from one of those countries directly holds more of 50% of the automaker’s interest. Starting Jan.