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President Biden signs Inflation Reduction Act, cut EV tax incentives

Teslarati

Most cuts come from the bill’s requirement of US assembly and price limits for qualifying vehicles. According to manufacturers, roughly 70% of electric, PHEV, and fuel cell electric vehicles are no longer eligible for incentives. The act faced significant political opposition as it made its way through the House and Senate.

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The Best Electric SUVs on the Market

EV Life

Like their electric car cousins, all-electric SUVs have come a long way—batteries have evolved to increase range and improve performance, new motors are providing impressive torque and towing capabilities, and prices have come down to make options more affordable, making these SUVs some of the most attractive sport utility options out there.

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

EV Life

Drivers looking to take advantage of the federal EV tax credit are subject to a variety of requirements regarding vehicle usage, the suggested retail price (MSRP), and household income, all of which can affect the amount of the tax credit they are eligible to receive. dependence on China.