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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. to switch to domestic minerals.

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Tesla To Reap $1.8 Billion From IRA Incentives, All Model 3 Cars Eligible For Full Tax Credit

CleanTechnica EVs

billion in Inflation Reduction Act production tax credits this year. That will put the two companies far ahead of the estimated $480 million that General Motors and LG Energy Solution are expected to receive. Ford won’t begin to reap any

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Report: Feds to formalize foreign entity rules for EV tax credit

Baua Electric

Treasury Department could issue clarifications on federal EV tax-credit eligibility rules as early as Friday, reports Transport Topics. does not have friendly trade relations with would not qualify for a $7,500 federal tax credit. But these could still limit the number of vehicles that qualify for the federal tax credit.

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2023-2024 VW ID.4: Most eligible for full $7,500 EV tax credit

Baua Electric

4 electric crossovers on sale now are eligible for the full $7,500 federal EV tax credit, VW confirmed Wednesday in a press release. 4 will retain the tax credit for the entirety of the 2024 calendar year. 4 models are still being sold, with a base price of $40,290, including destination, before the tax credit.

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Proposed Changes to the Federal EV Tax Credit Passed by the House of Representatives

EV Adoption

For electric vehicles, the BBBA includes multiple proposed changes to IRC 30D, more commonly knows as the federal EV tax credit. Perhaps the mostly likely is the requirement for EVs to be assembled in the US in a union factory to qualify for an additional $4,500 tax credit. Tax Credit Becomes Refundable.

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DOE awards $98M in tax credits to automakers and suppliers for clean technology manufacturing

Green Car Congress

The US Department of Energy (DOE) announced $150 million in clean energy tax credits to 12 businesses to build US capabilities in clean energy manufacturing; $98 million of that goes to five automakers and suppliers towards investments in domestic manufacturing equipment. Ford Motor Company. General Motors Company.

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Why Tesla Model Y tax credit inclusion is good for some and bad for others

Teslarati

The Tesla Model Y complete lineup was recently added to the IRS list of qualifying vehicles that will give buyers a $7,500 tax credit. While it may seem like the company’s huge price cuts coupled with the tax credit would be good for everyone, it spells bad news for competitors that offer comparable EVs in the same category.