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Well, it’s 2024, the changes to the federal EV taxcredit have officially taken effect, and it’s a bit of a mixed bag. The list of electric vehicles that qualify for the federal taxcredit shrunk from 35 to 14, according to the US Department of Energy. Which Electric Vehicles Still Qualify for the TaxCredit?
According to local media outlets , the agreement states Tesla will purchase lithium carbonate products from Yahua from 2025 to 2027. The United States has labeled China, Russia, NorthKorea, Iran, and other countries as nations of concern. Tesla specifically signed a deal with Yahua Lithium Co., a subsidiary of Yahua Group.
While many Tesla vehicles qualify for the IRA’s taxcredits 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 taxcredits list. The Cybertruck launched late last year in the US market.
The White House issued new guidance on federal electric vehicle (EV) taxcredits this week, including a key exemption that’s considered a win for many automakers, as it offers extra time for companies attempting to set up battery production operations in the U.S. These countries include NorthKorea, China, Russia and Iran.
The list of electric vehicles qualified for the EV taxcredit in calendar year 2024 has been released. Also of note: No Rivian electric truck qualifies for the full $7,500 taxcredit amount in 2024, at this time. The credit amount on these models has fallen to $3,750. And as expected, it’s very short.
Opting for an electric vehicle and leveraging the EV taxcredit to help with your next electric vehicle purchase is a smart move. One such incentive is the Clean Vehicle Credit , a key component of the Biden administration’s Inflation Reduction Act. View IRS instructions for claiming credit.
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