Starting today, if you buy an eligible MY22-23-24 EV, PHEV, or FCVs, you won’t have to worry about whether, say, Ford sells 200k of them by next year.
, plug-in hybrids, and fuel-cell vehicles on Monday, just before the April 18 tax deadline. Its list of new EVs, PHEVs, and FCVs purchased before 2023 is ridiculously long and detailed.to find your new electrified vehicle that was in the garage prior to April 18, to see if it qualifies and for how much.Tara Kleinramp up, from 40% through MY24, to 80% by the end of calendar 2026.
That 40% “local” production and content requirement applies only to the above new-vehicle list, which is why EVs are missing from the new vehicle list, though they may become eligible when the automaker’s Savannah, Georgia, assembly plant opens for business.To qualify for the tax credit, the taxpayer must buy the clean vehicle for personal or commercial use, and not for resale. It must be driven primarily in the US.
The new incentives have a unique impact on Tesla and General Motors. As the undisputed king of the battery-electric vehicle market, many recent Tesla buyers were not eligible for earlier federal tax credits after the automaker had reached the 200,000-unit sales threshold in July 2018. Likewise, GM shoppers couldn't get federal tax credits starting in December 2018, when sales of the Chevy Volt and Bolt reached that milestone.
To qualify for the new credit, a used EV or PHEV must be purchased from a dealer, have a sale price of $25,000 or less, and must have a model year at least two years old.is in an odd position as its ID.4 is listed as eligible for credits as a 2021 used model and as a new model sold before April 18. But the 2023 ID.4 is not listed as eligible after April 18, even though it is built in Chattanooga, Tennessee, and its battery is sourced from Georgia.
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