Remove China Remove North Korea Remove Russia Remove Tax
article thumbnail

Tesla models eligible for IRA tax credits in 2024

Teslarati

As everyone greets the new year, Tesla updated its website according to the Inflation Reduction Act’s (IRA) requirements for the electric vehicle (EV) tax credits. Most of Tesla’s other models—including the Model X—are eligible for the full tax incentives. The Teslarati team would appreciate hearing from you.

article thumbnail

Tesla signs lithium supply agreement with China-based company 

Teslarati

Tesla signed a lithium supply agreement with a subsidiary of China-based Yahua Group on June 19, 2024. The United States has labeled China, Russia, North Korea, Iran, and other countries as nations of concern. So, Tesla would not qualify for the IRA’s EV tax credits if it used minerals from China in its batteries.

Supplies 100
article thumbnail

Automakers win extension on use of Chinese graphite in EV tax credits – ET Auto

Baua Electric

Treasury Department on Friday gave automakers additional flexibility on battery mineral requirements for electric vehicle tax credits on some crucial trace minerals from China, such as graphite. 1 restricting Chinese content in batteries eligible for EV tax credits of up to USD 7,500, which sharply cut the number of eligible vehicles.

article thumbnail

2025 Polestar 3 starts at $74,800 and 315 miles, US deliveries in Q2

Baua Electric

Polestar reports that production has already started in Chengdu, China. Via what’s been called the EV leasing loophole applying to commercial vehicles, in a very generous interpretation of the intent, it will be able to keep claiming that amount from the federal government, whether vehicles are built in China or not.

Miles 52
article thumbnail

Good News and Bad News: Changes to the Federal EV Tax Credit in 2024

EV Life

Well, it’s 2024, the changes to the federal EV tax credit have officially taken effect, and it’s a bit of a mixed bag. The list of electric vehicles that qualify for the federal tax credit shrunk from 35 to 14, according to the US Department of Energy. Which Electric Vehicles Still Qualify for the Tax Credit?

article thumbnail

What happened to the Tesla Cybertruck & Model 3’s IRA tax credit eligibility? 

Teslarati

While many Tesla vehicles qualify for the IRA’s tax credits for electric vehicles (EVs), two Model 3 variants and the Cybertruck were left out of the current list. Tesla did not provide a reason for the Model 3 RWD and LR’s exclusion from the IRA tax credits list. China, Russia, and North Korea are on the list of FEOC nations.

article thumbnail

Chilean lithium to be eligible for U.S. tax break – ET Auto

Baua Electric

The IRA tax breaks will incentivize Chile’s export of raw lithium materials as well as costlier cathode material and lithode byproducts, the economy ministry said. tax benefits, the Andean country’s government said on Thursday. tax benefits, the Andean country’s government said on Thursday.

Tax 52