We've gathered every new EV that's currently eligible to earn the full $7500 federal tax credit. By Jack FitzgeraldUpdated: Jan 17, 2025 Save Article Marc Urbano|Car and Driver For better or worse, EVs appear to be our future. The U.S. government is putting increased weight into the ...
Those who are interested in purchasing an electric vehicle (and getting a tax credit for doing so) in the near future will want to pay close attention. The IRS has released revised lists of electric vehicles that are eligible for the federal Clean Vehicle Tax Credit, that were placed in ser...
2025 Federal Electric Vehicle Tax Credits The Inflation Reduction Act (signed in 2022 and placed into effect in 2023) made a number of key changes to the PHEV and electric vehicle federal tax credits and renamed them as the “Clean Vehicle Tax Credit”. The 6 biggest changes are: Major vehi...
The Big Ticket: The EV Tax Credit This year, the federal EV tax credit undergoes significant changes. Gone is the single credit structure; instead, a two-pronged approach based on battery capacity and sourcing takes its place. • Battery Capacity Credit: Vehicles with battery capacity of at ...
So if you’re on the lookout for a new electric car, and want to be able reclaim some of the listed price, here are the electric cars that are still eligible for the $7,500 federal tax credit. Nissan Leaf (Image credit: Nissan) The Nissan Leaf is one of the least expensive electric...
A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress.
Electric Vehicles that Qualify for the Federal Tax Credit The nature of the incentive has changed since originally conceived however, and is now more an inducement for carmakers to produce electric vehicles and electric-vehicle batteries in North America than it is a consumer perk. That said, con...
Since 2010, the federal government has incentivized the purchase of new electric vehicles with tax credits. To date, many EV and plug-in hybrid (PHEV) buyers have benefited from this program. But how exactly does the tax credit work, and which cars are e
the latest 500e takes design inspiration from the original 500. Though the 500e's $34,095 price tag makes it among the cheapest EV options available today. Don't expect any government assistance, though, as the 500e doesn't qualify for the federal tax credit. Its 149 miles of estimated...
Perhaps most importantly, the Model Y is one of the most affordable EVs in its class even before accounting for the $7,500 federal EV tax credit and the energy most efficient SUV on this list at 3.85 miles per kilowatt-hour making it a tough act to follow for frugal shoppers. ...