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The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. Based on these new rules, several vehicles will no longer qualify for the IRA tax credit, including the Nissan Leaf, BMW X5 xDrive45e, Genesis Electrified GV70, Rivian R1S and R1T, and plug-in hybrid Volvos and Audis.
The electric vehicle market has expanded rapidly in the last few years as automakers have introduced a variety of EV models to keep up with demand. Gone on the days of limited options and boxy, futuristic compact EVs. Since their inception, Americans have had a long love affair with sport utility vehicles. The good news? Volkswagen ID.4
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