A new EV Credits list...:
https://www.businessinsider.com/elec...ll-list-2023-4
As of April 18, only 10 all-electric car models qualify for the full $7,500 tax credit in the US. Chevrolet; Tesla; Cadillac; Ford
More details about $7,500 tax credits for electric cars came out on Monday.
Tax credits are crucial to encourage more EV adoption given the cars, on average, are expensive.
Here's which electric cars qualify for the EV tax credit starting on April 18.
The US Treasury Department on Monday released a list of electric and plug-in hybrid vehicles that qualify for the full amount of new EV tax credits available, or $,7500, which stem from the massive Inflation Reduction Act passed last August.
Monday's news also detailed which electrified vehicles qualify for half credit, or $3,750.
Whether a plug-in vehicle qualifies for credits is determined by the vehicle's eligibility based on criteria like sticker price, as well as whether it was assembled in the US. The two halves of the credit are related to the origin of its battery and critical minerals components. The industry was especially waiting for details on that, given how complex the EV battery supply chain is — and how much automakers are leaning on China for those materials.
The tax credits are meant to incentivize the auto industry to move their supply chains and invest in electric vehicle development in the US.
Only 10 electric vehicles can get the full credit amount starting April 18, while six others qualify for partial credits.