Starting on Tuesday, only 10 all-battery electric vehicles will qualify for the full $7,500 U.S. tax credit, according to the Treasury Department on Monday.
Below are the 10 EVs and two plug-in hybrids that will be able to get the full $7,500 tax credit:
EVs that Qualify for $3,750 credit:
Vehicles that are no longer eligible for tax credits (via Auto News):
The Chevrolet Blazer is expected to deliver in summer 2023, and Silverado and Equinox are set for fall 2023. The Tesla Model 3 Performance gets the full credit and the entry Standard Range version is eligible for $3,750 credit, with the latter cut by half due to its LFP batteries from China.
These changes by the Biden Administration will essentially cut the number of eligible vehicles qualifying for the full $7,500 amount by half, compared to those available during the beginning of 2023. The criteria is based on battery components and raw materials sourced from North America or nations with U.S. free-trade agreements. It’s part of the push to emphasize made in America and not in China.
Starting from Tuesday, several major automakers, including Volkswagen, Hyundai, Nissan, BMW, Volvo, and Rivian Automotive, will no longer be eligible for partial credits previously available for some of their vehicles, reports Bloomberg.
The good news is Tesla’s popular Model Y continues to be eligible for the full $7,500 credit, while the Model 3 Performance gets the full credit as well. The entry Standard Range Model 3 gets half the credit compared to before, but that’s better than not getting anything at all.
