Here's Every Electric Vehicle That Currently Qualifies for the Us Federal Tax Credit in 2024
As sales of electric vehicles continue to grow in 2024, many new and prospective customers have questions about
Electrek 3:38 pm on May 13, 2024
The Inflation Reduction Act has introduced new electric vehicle (EV) tax credits, which apply to both new and used EVs with specific price and assembly location criteria. The federal income limit for these incentives is $30k-$150k depending on household size. These incentives aim to support the adoption of EVs by providing financial benefits.
- Inflation Reduction Act: Introduces new tax credits for qualifying electric vehicles.
- Qualification Criteria**: Used and new EVs with a price below certain limits, assembled in North America, are eligible.
- Income Limit**: Applicants must earn less than $30k-$150k depending on household size.
- Used Vehicle Credits**: Used EVs under a $2,000 price cap may qualify for up to $7,500 in tax credit if purchased from an authorized dealer.
- Price Caps**: New SUV/truck models must have a base MSRP below $8,000 and other EVs under $5,000 to qualify for the credit.
https://electrek.co/2024/05/13/which-electric-vehicles-qualify-us-federal-tax-credit-ev-2024/