The $7,500 tax credit is actually two separate credits, worth $3,750 each. Before April 18 every qualifying vehicle got both credits, but now vehicles can qualify for neither, one, or both. The
Federal Tax Credit Up To $7,500! All-electric, plug-in hybrid, and fuel cell electric vehicles purchased new in 2023 or after may be eligible for a federal income tax credit of up to $7,500. The availability of the credit will depend on several factors, including the vehicle's MSRP, its final assembly location, battery component and/or critical
Tax credits can help make the transition to an electric or plug-in hybrid vehicle more affordable. And, though some popular models are no longer eligible for credits, new alternatives exist at a variety of price points. Even with tax credits, financing a new EV or plug-in hybrid requires planning and good credit.
The impact of the electric vehicle tax credit on qualifying vehicles depends on two crucial factors: purchase date and vehicle characteristics. For pre-April 2023 purchases, any new plug-in hybrid or electric vehicle with at least a 7-kilowatt-hour battery qualifies for a credit, with bonuses for larger batteries.
Get up to $7,500 to purchase or lease a new plug-in hybrid electric vehicle (PHEV), battery electric vehicle (BEV), or a fuel cell electric vehicle (FCEV). CVRP offers vehicle rebates on a first-come, first-served basis and helps get the cleanest vehicles on the road in California by providing consumer rebates to reduce the initial cost of
From luxury brand Lexus, the NX plug-in hybrid SUV also qualifies. Toyota joins Tesla and General Motors on the list of automakers who no longer qualify for the full tax credit; Tesla sold its 200