article thumbnail

President Biden signs Inflation Reduction Act, cut EV tax incentives

Teslarati

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.

Tax 83
article thumbnail

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

EV Life

4 2023 $7,500 $80,000 Personalize Incentives Five of the top ten best-selling EVs of 2022 qualify for the federal tax credit, including the Ford F-150 Lightning, Chevy Bolt EV, Ford Mustang Mach-E, Tesla Model 3, and Tesla Model Y (though the standard Model 3 and Ford Mustang Mach-E are only eligible for half of the tax credit).

article thumbnail

The Best Electric SUVs on the Market

EV Life

4 2023 $7,500 $80,000 Personalize Incentives PHEVs that Qualify for Tax Credits While all-electric options are steadily increasing as automakers release more EV models onto the market, many drivers looking to make the switch from gas-powered vehicles must consider their unique needs when deciding whether an electric car, truck, or SUV is for them.

SUV 52