The EPA has announced some upcoming plug-in vehicles that will be eligible for the tax credit once available. As of May 15, 2023, they include three Chevrolet EVs—the 2024 Blazer EV, 2024 Equinox EV, and the 2024 Silverado EV. Sebastian Blanco has covered the auto industry for over 15 ...
By 2024 certain approved dealers will be able to deduct the value of your tax credit at the point of sale, essentially giving you a discount on the car. How do cars become eligible for the EV tax credit? In theory all automakers that sell electrified cars, be they fully-electric or plug...
If the metals requirement isn’t met, the automaker and its buyers would be eligible for half the tax credit, $3,750. Pomeranian chases off bear in Castle Rock A separate rule would require that half the batteries’ value must be manufactured or assembled in North America. If not, the re...
If the metals requirement isn’t met, the automaker and its buyers would be eligible for half the tax credit, $3,750. A separate rule would require that half the batteries’ value must be manufactured or assembled in the North America. If not, the rest of the tax credit would be lo...
The websiteFederal Tax Credits for Plug-in Electric and Fuel Cell Electric Vehicles Purchased in 2023 or After (fueleconomy.gov)provides a list of all eligible vehicles, which got much shorter as of January 1. As of this writing, the following models qualify for the tax credit in...
What makes an EV eligible for federal incentives? The IRA updated the Qualified Plug-in Electric Drive Motor Vehicle Credit, now known as the Clean Vehicle Credit. Two critical new requirements impact an EV's eligibility, which went into effect at different points: Production location: the final...
June 2024 saw high average transaction prices for new vehicles of over $48,644, according to KBB. But the average price for an EV is still higher than a gas-powered option. The KBB estimate for an EV is over $56,000. However, EV prices are currently coming down, with a 2.5 percent...
There is also a political risk that if Donald Trump wins the US presidential elections in November, he could resume the US-China trade war which may hurt US and Chinese EV manufacturers. What are the opportunities in the automobile sector in 2024?
But not all home chargers are created equal. Some are faster than others, and that can play a big role in how you charge your vehicle and when. Curious about who offers the best EV chargers for free with their cars? Here’s a look at all the major EV manufacturers and what you’ll...
(decreasing to 71 g CO2e per km by 2040). These packages differ in terms of government expenditure, policy simplicity, public support and transformative signal. Our framework provides an accessible tool for policymakers to assess such tradeoffs with PEV-supportive policies and to identify approaches...