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The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV taxcredit aimed at helping qualified drivers purchase an electric vehicle. The taxcredit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. dependence on China.
The Model Y qualifies for the full $7,500 federal EV taxcredit. At the moment, the Mach-E only qualifies for half of the federal EV taxcredit, providing eligible drivers a credit of up to $3,750. The Chevy Bolt EUV also qualifies for the full $7,500 federal EV taxcredit. The other upside?
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