The electric vehicle tax credit, also known as the “clean vehicle tax credit,” or 30D, if you like IRS code, can offer up to $7,500 off the purchase of a new EV. Sounds nice, right?
But of course, it’s not that easy. This is the IRS we’re talking about after all.
Before you can collect your $7,500 credit from the government, there are a few rules that must be satisfied — rules about where the vehicle is made, where the battery is made, where the minerals are processed, the price of the vehicle, your own annual income, and much, much more.
If you thought it would be as easy as walking into a dealership, picking out the EV of your choosing, and collecting your credit, you were sorely mistaken.
The EV tax credit is more than just an incentive to get Americans to ditch their dirty gas-powered cars and replace them with clean, quiet zero-emission vehicles. It’s also an energy security measure aimed squarely at busting up China’s influence over the EV battery industry.
Will it succeed? Automakers are falling over themselves to set up manufacturing operations in North America in order to comply with the rules. And car buyers are making decisions based on which cars are eligible.
In addition to the stories listed below, here are a few resources to help you figure out if the car you want qualifies for the $7,500 credit:
- The rules for cars purchased in 2022 or before.
- The rules for cars purchased after January 1st, 2023.
- The list of eligible vehicles.
- The rules for used cars.
- The rules for commercial vehicles.
The list of eligible vehicles is very fluid. Cars are being added, removed, and being re-added. It will likely remain this way for a while as the auto industry acclimates to the rules and customers continue to lean toward those vehicles that qualify.
But one thing is for sure: the tax credit will continue to loom large over the industry’s shift to electric. Just be sure to talk to an accountant before you try to claim it.
- Senate Republicans introduce bills to make EVs more expensive
- Hyundai and Kia now qualify for the federal EV tax credit
- Tesla reportedly supports canceling the $7,500 EV tax credit.
- Carvana will apply a clean vehicle tax credit at checkout for used EVs
- Republicans won’t stop trying to kill Biden’s EV tax credit
- Hyundai’s first US-built EV will be the tax credit-ready Ioniq 5
- Biden grants automakers some flexibility on battery minerals in final EV tax credit rules
- Joe Biden is racing to finalize the EV tax credit rules before November for some reason.
- Chevy lifts stop-sale order on glitchy Blazer EV — and slashes prices
- Honda gets credit.
- Rivian adds R1S SUV to its leasing program.
- We’re down to just a handful of EVs that qualify for the full $7,500 tax credit in the US
- A bunch of EVs are going to lose their tax credit starting January 1st
- Tesla warns that the Model 3 is about to lose half of its tax credit in the US
- EV buyers will get an instant rebate of as much as $7,500 starting in 2024
- Tesla claims every new Model 3 now qualifies for $7,500 EV tax credit in US
- Rivian’s electric truck and SUV will qualify for a partial tax credit.
- Volkswagen ID.4 electric SUV will qualify for the full $7,500 tax credit, automaker says
- Good luck finding those 10 EVs that qualify for the $7,500 tax credit right now.
- Only six EVs still qualify for the $7,500 federal tax credit after new rules go into effect
- Fewer EVs will qualify for the federal $7,500 tax credit under updated rules
- Lucid joins the EV price war with a $7,500 credit for its luxury Air sedan
- Tesla bumps up Model Y price after EV tax credit adjustment
- The Treasury Department just fixed the EV tax credit’s Tesla Model Y problem
- Joe Manchin is trying to derail the EV tax credit he helped craft
- Why Tesla’s Model Y might not be eligible for the new EV tax credit
- A partial list of all the EVs that qualify for the new $7,500 tax credit
- The EV tax credit rules are being delayed until March 2023 — here’s what that means for you
- The Inflation Reduction Act’s tax credits are confusing, so the White House launched a website to help
- Foreign automakers are big mad about the new EV tax credit
- Yes, the new electric vehicle tax credits are really confusing, but we can help
- Buying an EV is about to be a pain in the ass, thanks to stricter tax credits
- No electric vehicles on the market today qualify for the new EV tax credit
- EV tax credits are back — and bigger — in new Senate climate bill
