{"id":1453580,"date":"2024-01-27T04:20:00","date_gmt":"2024-01-27T09:20:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1453580"},"modified":"2024-01-27T04:20:00","modified_gmt":"2024-01-27T09:20:00","slug":"heres-every-ev-qualified-for-us-tax-credits-in-2024","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/heres-every-ev-qualified-for-us-tax-credits-in-2024\/1453580\/","title":{"rendered":"Here’s Every EV Qualified For US Tax Credits In 2024"},"content":{"rendered":"

Here’s Every EV Qualified For US Tax Credits In 2024<\/span><\/p>\n

\n

This year, the list of qualified electric vehicles (EVs) <\/strong>for U.S. tax credits is relatively small.<\/strong><\/p>\n

Many popular models <\/strong>like the Nissan Leaf, Ford Mustang Mach-E, and some Tesla Model 3s are missing <\/strong>– largely due to new battery sourcing rules.<\/strong> With stricter rules coming into effect, the number of models is dropping from 43 to 13.<\/p>\n

Visual Capitalist’s Marcus Lu created the following graphic<\/a> to show the qualifying EV models in 2024, based on data from\u00a0FuelEconomy.gov<\/a>.<\/p>\n

<\/a><\/p>\n

Which EVs Made the List?<\/h2>\n

Here are the EVs that are eligible for a U.S. tax credit of up to $7,500 at the point of sale:<\/p>\n

Car
\n\t\t\tVehicle Type
\n\t\t\tCredit Amount
\n\t\t\tManufacturer’s Suggested
\n\t\t\tRetail Price Limit
\n\t\tChevrolet Bolt EUV
\n\t\t\tEV
\n\t\t\t$7,500
\n\t\t\t$55,000
\n\t\tChevrolet Bolt EV
\n\t\t\tEV
\n\t\t\t$7,500
\n\t\t\t$55,000
\n\t\tChrysler Pacifica PHEV
\n\t\t\tPlug-in Hybrid
\n\t\t\t$7,500
\n\t\t\t$80,000
\n\t\tFord Escape PHEV
\n\t\t\tPlug-in Hybrid
\n\t\t\t$3,750
\n\t\t\t$80,000
\n\t\tF-150 Lightning*
\n\t\t\tEV
\n\t\t\t$7,500
\n\t\t\t$80,000
\n\t\tJeep Grand Cherokee 4xe
\n\t\t\tPlug-in Hybrid
\n\t\t\t$3,750
\n\t\t\t$80,000
\n\t\tJeep Wrangler 4xe
\n\t\t\tPlug-in Hybrid
\n\t\t\t$3,750
\n\t\t\t$80,000
\n\t\tLincoln Corsair Grand Touring
\n\t\t\tPlug-in Hybrid
\n\t\t\t$3,750
\n\t\t\t$80,000
\n\t\tRivian R1S*
\n\t\t\tEV
\n\t\t\t$3,750
\n\t\t\t$80,000
\n\t\tRivian R1T*
\n\t\t\tEV
\n\t\t\t$3,750
\n\t\t\t$80,000
\n\t\tTesla Model 3 Performance
\n\t\t\tEV
\n\t\t\t$7,500
\n\t\t\t$80,000
\n\t\tTesla Model X Long Range
\n\t\t\tEV
\n\t\t\t$7,500
\n\t\t\t$80,000
\n\t\tTesla Model Y*
\n\t\t\tEV
\n\t\t\t$7,500
\n\t\t\t$80,000<\/p>\n

*F-150 Lightning includes Standard and Extended Range models. R1S includes Dual and Quad Motor models. R1T includes Dual, Performance Dual, and Quad Motor models. Model Y includes RWD, AWD, and Performance models.<\/em><\/p>\n

The good news is that getting the discount is now easier for customers.<\/p>\n

Instead of filling out tax paperwork to receive the tax credit, buyers will automatically get the discount at participating dealerships at the time of purchasing.<\/p>\n

Additionally, models eligible for a partial credit of $3,750 include Rivian EVs along with plug-in hybrids from Jeep, Ford, and Lincoln.<\/p>\n

Ultimately, the tax credit is designed to encourage people to switch to EVs and purchase models that are sourced in America. Overall, it is part of a wider plan to boost manufacturing and\u00a0clean energy investment<\/a>\u00a0across the country.<\/p>\n

U.S. EV Manufacturing Push<\/h2>\n

Several automakers are ramping up investment in American battery plants.<\/p>\n

In October 2023, Toyota announced it was investing an additional\u00a0$8 billion<\/strong>\u00a0in its North Carolina battery plant, adding 3,000 new jobs.<\/p>\n

Along with this, Ford is constructing a 3,600 acre facility for battery manufacturing and EV production, valued at $5.6 billion. By 2026, it is targeting to make 500,000 electric trucks annually. Located in Tennessee, the mega-campus is set to create 6,000 new jobs.<\/p>\n

Still, Ford is scaling back EV investment, citing a reluctance among customers to pay a premium for electric models. The United Auto Workers deal, estimated to cost Ford $8.8 billion, likely impacted EV investment plans.<\/p>\n

The cost of\u00a0EV batteries<\/a>\u00a0can range from around $8,000 to over $22,000.<\/p>\n

Automakers including Lucid, General Motors, Honda, Nissan, and Stellantis (Chrysler\u2019s parent company) are all building, or plan to build, battery facilities in the country.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 01\/26\/2024 – 23:20<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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