Stabenow said she remains hopeful that the Biden administration can offer the tax credits next year while it works on the detailed rules for the battery requirements. “We will continue to work with the automakers and the administration on getting as much common sense into the regulations as poss...
We finally know which electric vehicles qualify for up to $7500 in federal tax credits this year, and the list is surprisingly short. A function of the Inflation Reduction Act which was passed into law last August, the new tax credit policy proved to be good news for General Motors and Te...
Fed up with high gas prices and enticed by federal tax credits, Dave Walters decided he wanted an all-electric Hyundai Ioniq 5 for his next vehicle. The Orange County, California, resident initially thought about purchasing a used model, until he learned he could lease the vehicle and take ...
Some EVs could get a whole lot cheaper in the U.S., too, with federal tax credits starting next year of up to $7,500 that are part of the Inflation Reduction Act. But meeting federal requirements may be difficult. The vehicles and batteries have to be assembled in North America, and ...
One of the proposed changes to the federal EV tax credit that has flown a bit under the radar is also one of the most political and protectionist in nature. Effective January 1, 2022, electric vehicles with final assembly* (see definition at the end) in China...
General Motors, Ford, Stellantis and Tesla are the only four automakers with electric vehicles that qualify for $7,500 in tax credits this year, according to rules released by the U.S. Treasury Department on Monday. The new tax credits, which last until 2032, were enacted last year in ...
Last year, Teslas weren't eligible for a tax break under a previousfederal credit programbecause the company had reached a limit of 200,000 vehicles sold. But the tax credits through the IRA don't have such a limit, which means more buyers may be able to lower the purchas...
Don’t Forget State Electric Vehicle Tax Credits & Rebates I have published and maintain a thorough list ofstate electric vehicle tax credits and rebatesas well. There are currently 13 states with major tax credits or rebates. These tax credits are in addition to any federal tax credit. But,...
Under the $740 billion economic package, which passed the Senate over the weekend and is nearing approval in the House, the tax credits would take effect next year. For an EV buyer to qualify for the full credit, 40% of the metals used in a vehicle's battery must come from North Ameri...
Some EVs could get a whole lot cheaper in the U.S., too, with federal tax credits starting next year of up to $7,500 that are part of the Inflation Reduction Act. Butmeeting federal requirements may be difficult. The vehicles and batteries have to be assembled in North America, and th...