The Treasury Department has announced the new electric vehicle tax credit list. Some of the most popular electric vehicles are qualified for the incentive, even though fewer are currently.
The new regulation allows for potential tax rebates of up to $7,500 for certain automobile purchases. Only a handful of older models, notably those built in other countries, are currently ineligible for the new credit in its entirety or in part. This includes more than a dozen new models and some of their modifications.
What kinds of electric vehicles qualify for the new rebate program?
- 2022-2023 PHEV Chrysler Pacifica
- Jeep Wrangler Plug-In Hybrid 4×4 (2022-203).
- 4×4 Plug-In Hybrid Jeep Grand Cherokee (2021-2023)
- Ford will release two versions of the F-150 Lightning in 2022 and 2023.
- Ford e-Transit, Year 2022
- Mustang Mach-E (regular and long-range) from Ford in 2022 and 2023.
- Plug-In Hybrid Ford Escape 2022
- Lincoln Grand Touring Corsair 2022
- Grand Touring 2023 Lincoln Aviator
- Chevrolet Bolt, 2022-2023
- GM’s Bolt EUV will debut in 2022–2023.
- Caddy LYRIQ 2023–2024
- Silverado EV from Chevrolet in 2024
- A Chevrolet Blazer EV, Year 2024
- Electric Equinox (Chevrolet) 2024
- Standard-Range Rear-Wheel-Drive Tesla Model 3 2022–2023
- Model 3 Performance from Tesla in 2022 and 2023
- AWD Model Y Teslas Due in 2022–2023.
- 2022-2023 LR/AWD Model Y by Tesla
- Efficiency of the Tesla Model Y in 2022
- Volkswagen ID-4 (2023 Models)
- Rivian R1S 2023
- Rivian R1T 2023
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Are There Any EVs That Won’t be eligible for the New Tax Credit?
Despite the new tax credit, there are a few models that do not meet the requirements. These vehicles are primarily from foreign manufacturers like Hyundai and Nissan.
In the coming months and years, however, that may change as some of these brands are constructing plants in the United States to assemble their automobiles.
Visit www.fueleconomy.gov for the most up-to-date information on qualified new and pre-owned EVs.
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