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President Biden signs Inflation Reduction Act, cut EV tax incentives

Teslarati

AUGUST 16, 2022

According to manufacturers, roughly 70% of electric, PHEV, and fuel cell electric vehicles are no longer eligible for incentives. Even many of the more affordable EV offerings will no longer be eligible, including the Hyundai Kona EV, Kia Niro EV, Polestar 2, or the internationally-produced Volkswagon ID.4s.

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Tax Volkswagon F-150 Kia 95
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The Best Electric SUVs on the Market

EV Life

JUNE 8, 2023

The other factor keeping some drivers from making the switch to electric SUVs, despite the long-term savings on fuel, is the initial sticker price. That’s where plug-in hybrid vehicles, or PHEVs, come in. At the moment, the Mach-E only qualifies for half of the federal EV tax credit, providing eligible drivers a credit of up to $3,750.

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SUV Tax Credit Market Tax 52
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