Curious about which electric vehicles (EVs) qualify for the $7,??? ???? ????.?? ??? ?????? ?????? ? ?????? ?????????500 tax credit in 2024? According to fueleconomy.gov, the list of eligible EVs dropped on Jan. 1 and the number of greenlit cars fell significantly.
Now, only 13 models meet the qualifications for the tax credit, down from about two dozen (h/t Business Insider).
Why did the list of eligible EVs shrink?
The list of eligible EVs got slashed down to 13 because there were new rules put in place that exclude cars with materials from China and other countries that the Treasury Department says are "foreign entities of concern."
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“President Biden entered office determined to reverse the decades-long trend of letting jobs and factories go overseas to China,” John Podesta, Senior Advisor to the President for Clean Energy Innovation and Implementation, said in a press release. “Thanks to the Investing in America agenda and today’s important guidance from Treasury and the Department of Energy, we’re helping ensure that the electric vehicle future will be made in America.”
13 EVs that are eligible for the $7,500 tax credit
Unfortunately, due to the new restrictions, popular models such as the Ford Mustang Mach-E and most versions of the Tesla Model 3 (the Tesla Model 3 Performance is accepted) got kicked off the list.
Here are the 13 EVs that made the cut:
Tesla Model 3 Performance
Tesla Model Y
Tesla Model X
Rivian R1S
Rivian R1T
Chevrolet Bolt EUV
Chevrolet Bolt EV
Ford F-150 Lightning
Ford Escape plug-in hybrid
Chrysler Pacifica PHEV
Jeep Grand Cherokee PHEV 4xe
Jeep Wrangler PHEV 4xe
Lincoln Corsair Grand Touring
You can also double-check whether your car qualifies for the $7,500 clean tax credit by submitting its VIN via fueleconomy.gov.
Topics Electric Vehicles