A partial checklist of all of the EVs that qualify for the brand new $7,500 tax credit score

As of January 1st, 2023, a bunch of electrical autos turned newly eligible for the $7,500 tax credit score, which handed into regulation as a part of the $430 billion Inflation Discount Act a yr in the past.

Some fashions new to the checklist had misplaced their eligibility when their producer hit the earlier credit score’s gross sales cap of 200,000 autos (Tesla fashions, Chevy Bolts). Others have just lately shifted their manufacturing to North America, assembly one of many essential necessities (VW ID.4).

There’s nonetheless loads within the air proper now

There’s nonetheless loads within the air proper now — the Treasury Division has set a March deadline for releasing steerage on a few of the thornier points surrounding battery materials sourcing and different guidelines that would drastically scale back the eligibility checklist if enacted — however for now, these are the EVs that qualify.

International automakers are pressuring the Biden administration to provide them a bit of the motion, whereas Senator Joe Manchin (D-WV) is threatening to dam the implementation in an effort to stop corporations from exploiting loopholes. And Tesla CEO Elon Musk is whining about the way it’s “tousled” that sure variations of the Tesla Mannequin Y that exceed the $80,000 value cap don’t qualify, whereas a bunch of hybrid Jeeps do.

Backside line: should you’re not sure whether or not the brand new EV you’re eyeing qualifies for the credit score, discuss to an accountant. Each state has at the least a number of CPAs which might be accustomed to the EV tax credit score craziness and can assist you navigate the murky waters forward. They’ll additionally let you know what state incentives, if any, could also be accessible.

This checklist is an effective begin, however don’t take into account the final phrase.

Eligible EV for the $7,500 tax credit score

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