New regulations for the electric car tax credit were enacted together with the new Inflation Reduction Act. At first, it was anticipated that due to the strict production specifications, no car would be eligible for the tax credit.
Fortunately, the Department of Energy allayed some of those worries by releasing a list of brand-new EVs that will be eligible in 2022 as well as a few cars that will be eligible the following year.
With only 18 automobiles eligible for the credit in 2022, the list isn’t particularly large. The Department of Energy further points out that only automobiles with North American final assembly are eligible for the tax credit.
Given that many automobiles have several assembly locations, a VIN decoder is offered to determine which vehicles are eligible. Because the terms “simple” and “easy to grasp” do not necessarily apply to federal law.
The Audi Q5, BMW 3-Series Plug-in, and BMW X5 EV are among the new cars for 2022 that are eligible for the EV tax credit. The Ford Transit Van, Mustang Mach-E, and F-150 Lightning are all qualified, as well as the Chrysler Pacifica PHEV. Customers of Jeep’s Grand Cherokee and Wrangler 4xe PHEV models will also be eligible for the $7500 tax credit.
The Lucid Air, Nissan Leaf, and Corsair Plug-in, together with the Lincoln Aviator PHEV, were listed as qualifying cars. Rivian’s R1S, R1T, and EDV are acceptable. The list of vehicles that qualify for 2022 is completed by the Volvo S60.
The popular Nissan Leaf, the Mercedes-Benz EQS, and the BMW 3-Series Plug-in make the cut for 2023.
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