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Biden Administration mulls over reprieve from EV tax credits for automakers

Teslarati

One of the biggest concerns about the IRA’s requirements for EV tax credit eligibly regards battery packs, cells, and the materials used to manufacture them. In March, the United States Department of Treasury published the battery sourcing guidance, which automakers must comply with to reap the tax credits from the IRA.

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The Tesla Model 3 RWD’s federal tax credit gets reduced to $3,750

Teslarati

The Tesla Model 3 RWD, the most affordable vehicle in the company’s lineup, will see its federal tax credit reduced from $7,500 to $3,750, as confirmed by an update on Tesla’s official Model 3 page. The reduction in the federal tax credit for the Model 3 RWD will take effect on April 18.

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This Volkswagen EV Now Comes with Full Tax Credit Benefits

The Truth About Cars

Photo credit: Volkswagen Volkswagen has recently announced that their MY23 and the upcoming MY24 models of the ID.4, 4, equipped with SK On battery components, will be eligible for the full $7,500 Federal Tax Credit. that qualifies for the full Federal Tax credit. This development makes these models of the ID.4,

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More affordable Polestar 2 undercuts Tesla Model 3, at $47,200 for US

Green Car Reports

The new 270-mile single-motor version of the Polestar 2 will start at $47,200 (including destination) in the United States, Polestar confirmed Thursday. Considering that Polestar qualifies for the $7,500 federal EV tax credit and Tesla.

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Kia is Readying a New Affordable EV4 Sedan for the 2025 Model Year

The Truth About Cars

Several automakers have promised affordable EVs, but so far, none have truly delivered. Kia said the EV4 will arrive in 2025 and noted that it plans to build 70,000 units annually. The car’s starting price is expected to come in at under $35,000, which would make it one of the most affordable electric models in the U.S.,

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Upcoming Changes to the Clean Vehicle Tax Credit Explained

Blink Charging

To encourage clean and energy-efficient vehicle adoption, the United States government has made significant changes to the Clean Vehicle tax credit, to take effect from January 1, 2024. These changes make it easier for drivers to access tax credits when purchasing clean vehicles.

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Report: Tesla To Build Fabled Affordable Electric Car in Germany

The Truth About Cars

New reports state that Tesla is working toward an affordable EV model and note that it will produce the vehicles at its German location near Berlin. While the Model 3’s prices have fallen in recent times, the least expensive model in the line is $38,990 before tax credits and local incentives. We’re back here again.