If you want to get a special incentive for driving a hybrid, you're a few years too late; but a tax credit applies to nearly every electric car and plug-in hybrid on the market and it can, in some cases, effectively reduce your cost for such a model to that of an ordinary ...
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
Review, Price, SpecsGreg Pajo|Car and Driver The Tesla Cybertruck needs no introduction. The polarizing electric pickup truck is now less expensive too, as the dual-motor model now qualifies for the $7500 federal tax credit. While the rear-drive single-motor version hasn't arrived yet, the...
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.
(Image credit: Tom's Guide) The electric car tax credit has changed, and that means all the eligibility criteria have changed with it. While still worth up to $7,500, the Inflation Reduction Act means that the majority of electric cars no longer qualify. As time goes on the eligibility...
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...
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. But theauto industryis warning that the vast majority of EV purchases won't qualify for atax creditthat large. ...
California Gov. Gavin Newsom announced Monday that the state would renew a rebate program for electric vehicles if the incoming Trump administration eliminates the current federal tax credit. Newsomsaid in a press statementhe is proposing a new version of the state'sClean Vehicle Rebate ...
Tesla did not explain the reason for the reduction in the tax credit, and did not immediately respond to FOX Business' request for comment. However, the alert comes after theBiden administration released updated guidancelast week aimed at helping automakers and consumers determine which electric vehi...
Five electric vehicles from Hyundai, Kia, and Genesis now qualify for the US’s $7,500 EV tax credit,Electrekreports. The new models include popular vehicles like the Hyundai Ioniq 5 crossover SUV and Kia EV9 three-row family hauler. Now, 25 EVs and plug-in hybrids across 10 brands...