With all the foundations laid out, solely 10 vehicles will qualify for the total $7,500 credit score beginning in 2024. There are solely 9 as a result of the 2023 Chevrolet Bolt EV, probably the most inexpensive EV on sale proper now, will not proceed previous the 2023 mannequin yr. We solely embrace it right here as a result of a couple of models may nonetheless be left on showroom flooring.
That leaves the the Cadillac Lyriq, the Chevrolet Equinox EV (which isn’t but on sale), the Chevrolet Blazer EV, the Chevrolet Silverado EV, the Ford F-150 Lightning, the Tesla Mannequin 3 Efficiency, The Tesla Mannequin Y Efficiency, and the Tesla Mannequin X. The Chrysler Pacifica PHEV is the one non-EV that’s eligible.
(UPDATE: The Cadillac Lyriq and Chevrolet Blazer EV don’t qualify, however Normal Motors is offering a $7,500 low cost till it might probably supply American components for its Ultium battery pack. That is anticipated to occur early in 2024, at which level each vehicles might be absolutely eligible for the $7,500 tax credit score.)
Normal Motors dominates the checklist with 4 fashions, whereas Tesla is available in second with three, although solely the Efficiency variations of the Mannequin 3 and Mannequin Y will qualify. You may immediately acknowledge an affordability concern right here, for the reason that least expensive car that qualifies for credit, the Equinox EV, begins at a whopping $48,995. Chevy initially promised an inexpensive mannequin for $30,000, but it surely has been canceled. The entire level of the $7,500 credit score is to make EVs extra attainable for the plenty, however the 9 eligible vehicles are all comparatively costly.
One other automotive might also be added to this checklist, however its inclusion was nonetheless unconfirmed on the time of writing. “We’re happy that draft steering on FEOC has been launched and are cautiously optimistic that the Chattanooga-assembled 2024 Mannequin Yr ID.4 will qualify for the total $7,500 Tax Credit score below Part 30D,” Volkswagen instructed CarBuzz. “We look ahead to persevering with our dialogue with the Treasury and Division of Power as this steering is finalized.”
