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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. 2024 Rivian R1T Which models qualify?

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

EV Life

These additional requirements are meant to encourage the auto industry to rely less on foreign countries like China and more on domestic sources for these components, promoting local manufacturing and supply chain security. Read on or just use EV Life’s EV Savings Calculator to tell you what you and your vehicle qualify for.

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

Blink Charging

Vehicles must not exceed an MSRP of $80,000 for vans, sport utility vehicles (SUVs), and pickup trucks; or $55,000 for all other vehicles. Starting in 2024 , to reinforce America’s supply chain security, a clean vehicle must not incorporate any battery components produced or assembled by a Foreign Entity of Concern (FEOC).