Every Tesla Model 3 now qualifies for a $7,500 tax credit. Here's all the eligible electric cars.
More than two-dozen cars are now eligible for federal tax credits up to $7,500.
The law is designed to encourage EV adoption and spur American EV manufacturing.
Here's the full list of electric cars, trucks, and SUVs that qualify for a full or partial tax credit.
The US Treasury Department has updated its list of electric and plug-in hybrid vehicles that qualify for up to $7,500 of EV tax credits, which stem from the massive Inflation Reduction Act passed in August 2022.
The list also details which electrified vehicles qualify for half the credit, or $3,750.
Credit qualifications are determined by the vehicle's sticker price ($80,000 for vans, SUVs, and trucks; and $50,000 for everything else) and whether it was assembled in the US. The vehicle also must be brand new.
For a buyer to be eligible, they'll need to meet certain income requirements and use the car primarily in the US.
The tax credits are meant to incentivize the auto industry to move their supply chains and invest in electric vehicle development in the US.
Importantly, the rules were in flux between the bill's passage into law and the full set of rules being released by the Treasury Department. This list is for vehicles purchased new and driven off lots after April 18. To claim the credit, you'll need to provide your vehicle's VIN on a specific form with your taxes.
Here's the full list of vehicles that qualify for a full- or half-credit:
2024 BMW X5 xDrive50e
Credit amount: $3,750
2023-2024 Cadillac Lyriq
Credit amount: $7,500
2024 Chevrolet Blazer
Credit amount: $7,500
2022-2023 Chevrolet Bolt
Credit amount: $7,500
2022-2023 Chevrolet Bolt EUV
Credit amount: $7,500
2024 Chevrolet Equinox
Credit amount: $7,500
2024 Chevrolet Silverado
Credit amount: $7,500
2022-2023 Chrysler Pacifica PHEV
Credit amount: $7,500
2022-2023 Ford E-Transit
Credit amount: $3,750
2022-2023 Ford Escape PHEV
Credit amount: $3,750
2022-2023 Ford F-150 Lightning
Credit amount: $7,500 (for both the extended and standard range batteries)
2022-2023 Ford Mustang Mach-E
Credit amount: $3,750 (for both the extended and standard range batteries)
2022-2023 Jeep Grand Cherokee PHEV 4xe
Credit amount: $3,750
2022-2023 Jeep Wrangler PHEV 4xe
Credit amount: $3,750
2022-2023 Lincoln Aviator Grand Touring PHEV
Credit amount: $7,500
2022-2023 Lincoln Corsair Grand Touring PHEV
Credit amount: $3,750
2023 Rivian R1S
Credit amount: $3,750
2023 Rivian R1T
Credit amount: $3,750
Tesla Model 3 (various model-years)
Credit amount: All 2023 variants of the Model 3 are eligible for the full $7,500 credit, and all but one variant from 2022 qualify.
2022-2023 Tesla Model Y
Credit amount: All Model Y variants (All-Wheel Drive, Long Range All-Wheel Drive, and Performance) are eligible for the full $7,500 credit.
2023 Volkswagen ID.4
Credit amount: $7,500 (for all eight each of the model's variants: All-Wheel Drive Pro, All-Wheel Drive Pro S, All-Wheel Drive Pro S Plus, Pro, Pro S, Pro S Plus, S, and Standard variants)
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