EV tax credit

Here are Cars Still Eligible for the $7,500 EV Tax Credit in 2022 [LIST]

U.S. President Joe Biden signed the Inflation Reduction Act on Tuesday, including a crucial tax credit of $7,500 on electric vehicle (EV) purchases. According to Automotive News, the Biden Administration said on Tuesday that around 20 EV models will remain eligible for the $7,500 EV credit through the end of 2022. The Alliance for Automotive […]

U.S. House Passes Climate Bill Containing $7,500 EV Tax Credits

The U.S. House of Representatives on Friday passed the Inflation Reduction Act (IRA), the largest climate bill ever passed in the country. It includes $369 billion USD in climate-related funding, part of which will cover tax credits of up to $7,500 USD for new and used electric vehicle (EV) purchases. The IRA cleared the U.S. […]
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Senate Deal Brings EV Tax Credits to Benefit Tesla, Toyota, GM

U.S. officials are considering what the extension of a tax credit could look like for zero-emission vehicles, and two senators have agreed upon new circumstances surrounding the deal. A senate deal between Chuck Schumer and Joe Manchin features the extension of tax credits for electric vehicles (EVs), according to those familiar with the matter who […]

Toyota Joins Tesla, GM in Running Out of EV Tax Credits in U.S.

Toyota has run out of a $7,500 tax credit available for buyers of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) in the U.S. — reports Automotive News. The Japanese automaker reported 3,876 plug-in sales for June, putting the company over the 200,000 credit-eligible sales every automaker is allowed in the U.S. Toyota […]

U.S. Automakers Urge Congress to Raise Price Cap for EV Credits

As costs for raw materials continue to increase the build price of many electric vehicles (EVs) some automakers have joined together to ask the U.S. to change its tax credit stipulations. Automakers General Motors (GM), Ford, Stellantis and Toyota all helped to urge Congress on Monday to raise the cap on the $7,500 EV tax […]

Canada ‘Concerned’ About Biden’s Buy-American EV Tax Credit

Heading into a meeting with U.S. President Joe Biden and Mexican President Andres Manuel Lopez Obrador on Wednesday, Canadian Prime Minister Justin Trudeau said he was “a little bit concerned” about the U.S.’s proposed increase in electric vehicle (EV) tax credits for locally assembled, union-built cars — reports Global News. “We are a little bit […]

U.S. Senate Panel Pushes EV Tax Credit of Up to $12,500

On Wednesday, the U.S. Senate Finance Committee advanced a bill that would effectively increase electric vehicle (EV) tax incentives up to $12,500 for all EVs manufactured by U.S. union workers, according to Reuters. The legislation would eliminate the current EV maximum credit of $7,500, and would only require a base price of under $80,000. The […]