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The list of EVs eligible for a $7,500 tax credit got a lot shorter on January 1. ... New requirements for a $7,500 federal tax credit on electric vehicles kicked in on January 1, ...
Make and model: Only certain electric vehicles qualify for the tax credit. Not all electric cars are eligible. The full list of approved vehicles can be found at FuelEconomy.gov. Vehicle cost: To ...
As of the start of the year, the implementation of new rules by the Department of Energy (DOE) means only 13 vehicles qualify for federal tax credits for electric vehicles made in North America.
Currently the standard credit for a qualified alternative fuel vehicle is $4,000. Other than the Civic GX, a number of models produced after 2004 may qualify for tax credits. [13] Electric vehicles: Government tax credit programs are planned for electric and plug-in hybrid vehicles, but no specific models have yet been certified. [14]
If you and your car fall under the federal EV tax credit income and price limits, respectively, here are the 10 cars that will get you a full federal tax credit of $7,500 and their MSRPs ...
The Toyota Prius Plug-in Hybrid, released in January 2012, was eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh. [278] All Tesla cars and Chevrolet Bolts were eligible for the $7,500 tax credit. As granted by the 2009 ARRA, electric vehicles produced after 2010 are eligible for an IRS tax credit from $2,500 to ...
In 2024, several EVs are eligible for the federal government's tax credit program, which can reduce what you owe the IRS by up to $7500 for a single tax year.
Pricing for the hybrid model starts at $52,750, and it's the only PHEV on the list that's eligible for the full $7500 tax credit. Chrysler 2024 Ford Escape Plug-In Hybrid ($3750)